Shipping Execs Get Jail Time For Antitrust Conspiracy

Law360, New York (October 1, 2008, 12:00 AM EDT) -- Four executives of U.S. shipping companies will pay $20,000 apiece and serve jail time as part of plea bargains reached with the U.S. Department of Justice in its investigation into price-fixing, bid-rigging and market allocation in the coastal shipping industry between the U.S. and Puerto Rico.

The DOJ charged each of the four with one count of felony antitrust violations in the U.S. District Court for the Middle District of Florida. Puerto Rico resident Gabriel Serra, Florida resident Peter Baci, and North Carolina residents Kevin Gill...
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