Price-fixing crimes
UK-based Dunlop Oil & Marine will pay $4.54m in criminal fines for participating in a cartel to rig bids, fix prices and allocate market shares of marine hose.
Grimsby-based Dunlop Oil & Marine will pay $4.54m in criminal fines for participating in a cartel to rig bids, fix prices and allocate market shares of marine hose.
During the conspiracy, the cartel affected prices for hundreds of millions of dollars worth of marine hose and related products worldwide.
Dunlop is charged with participating in it from as early as 1999 until as late as May 2007.
The US Department of Justice said that, among others things, the cartel members attended meetings during which they allocated shares of the marine hose market among them and agreed not to compete for one another's customers, either by not submitting prices or bids to certain customers or by submitting intentionally high prices or bids.
Dunlop executives Bryan Allison and David Brammar pleaded guilty in December 2007 to participating in the conspiracy.
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