The US Department of Justice has indicted four Chinese container manufacturers and seven executives, primarily Chinese, with one Singaporean, for a global price-fixing conspiracy from 2019 to 2024.
In a statement on Tuesday prosecutors allege the group restricted output and coordinated prices of standard shipping containers, doubling costs during the COVID-19 supply chain crisis. One Chinese executive, Vick Nam Hing Ma, has been arrested in France, while others remain at large. Officials said the scheme "held hostage the world's supply" and harmed consumers. The alleged conduct violated the Sherman Antitrust Act, with penalties including prison terms and heavy fines, as authorities vowed to keep "protecting consumers."
https://breakingthenews.net/Article/US-indicts-Chinese-firms-execs-over-shipping-prices/66323760
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.