Corporate & Securities Law

DOJ Obtains Two Guilty Pleas in Different Investigations

By Matthew S. Wild

Today, an Italian executive agreed to plead guilty for his involvement in the Marine Hose Cartel. His plea agreement includes incarceration of one year and one day and a $20,000 fine. In addition, a Long Island defense contractor agreed to plead guilty to bid rigging and a conspiracy to commit wire fraud for his participation in a conspiracy to rig bids on Navy contracts for straps which are used to secure munitions.  His sentence was left entirely to the Court’s discretion.  Most criminal cases brought by the Antitrust Divisions are resolved by plea agreements.  As discussed in the March 15, 2008 Post, the trial record of the Criminal Section (Antitrust Division) has been spotty.  It has lost three trials within the last year.

Full post as published by Antitrust Commentary on April 18, 2008 (boomark / email).