US: E-commerce firm Zaappaaz agrees to plead guilty to price-fixing

E-commerce company, Zaappaaz, and its top executive have agreed to plead guilty to conspiring to fix prices for customized promotional products sold online to customers in the United States.

A statement from the US Department of Justice confirmed that Zaappaaz Inc. and its president Azim Makanojiya agreed to plead guilty to a one-count criminal violation of the Sherman Act.

Acting Assistant Attorney General Andrew Finch of the Department of Justice’s Antitrust Division, Acting US Attorney Abe Martinez and Special Agent in Charge Perrye K. Turner, of the FBI’s Houston Field Division, made the announcement.

According to the felony charges filed today in the US District Court for the Southern District of Texas in Houston, the conspirators attended meetings and communicated in person and online. The investigation has revealed that the conspirators used social media platforms and encrypted messaging applications, such as Facebook, Skype and Whatsapp, to reach and implement their illegal agreements.

Full Content: Bloomberg

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