Shipping Honcho Convicted Of Cargo Price-Fixing Conspiracy

Law360, Los Angeles (January 29, 2013, 10:20 PM EST) -- A Puerto Rico federal jury convicted the former president of Sea Star Line LLC of conspiring to manipulate the prices the ocean shipping company charged customers to ferry cargo between the continental U.S. and Puerto Rico, the U.S. Department of Justice said Tuesday.

Frank Peake was found guilty of participating in the price-fixing racket that lasted from late 2005 until April 2008 and ratcheted up prices on goods transported between the continent and Puerto Rico, according to a statement by the DOJ.

“The coastal shipping price-fixing...
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