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corporate crime
by leon on June 12, 2008
Something that will send shockwaves through the British business world with the first jail sentence for cartel conduct in the UK. Three businessmen, including two from the British unit of Continental AG, Europe's second-largest tiremaker, were sentenced for up to three years in jail for fixing the price of hoses in the oil industry.
It's a significant sign that governments are starting to crack down on cartels which are the lowest form of business life because they screw the customer.
The US experience shows there's room for improvement. As the Antitrust & Competition Policy Blog points out, the number of cartel investigations has not risen appreciably although monetary penalties have. Author professor Daniel Sokol offers a number of solutions including changes in the US Sentencing Guidelines.
Permalink: Cracking down on cartels
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/126151
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Something that will send shockwaves through the British business world with the first jail sentence for cartel conduct in the UK. Three businessmen were sentenced for up to three years in jail for fixing the price of hoses in the oil industry.
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