Ex-SK Foods CEO Pleads Guilty To Price-Fixing

Law360, New York (March 23, 2012, 5:17 PM EDT) -- SK Foods' former CEO pled guilty Friday to charges of racketeering and price-fixing in a case alleging he told employees to use hundreds of thousands of dollars to bribe purchasing agents at Frito-Lay Inc., Kraft Foods Inc. and others into doing business with SK Foods.

Frederick Scott Salyer pled guilty to both counts before U.S. District Judge Lawrence K. Karlton in California federal court. He is scheduled to be sentenced July 10.

According to the plea agreement, Salyer agreed to serve a prison term of four...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.