5th Exec Pleads Guilty In Marine Products Probe

Law360, New York (November 18, 2008, 12:00 AM EST) -- The former president of a California marine products company has become the fifth person to plead guilty for his role in an alleged conspiracy to rig bids for plastic pilings supplied to the U.S. military and other entities.

Andrew Barmakian could be sentenced to up to three years in jail and fined $350,000 or more for the bid-rigging charge, the U.S. Department of Justice said Monday. The fine could be increased to twice the gain derived from the crime or twice the loss suffered by the...
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