The Federal Competition Commission (Comco) has wrapped up its last two investigations into an illegal price-fixing cartel in the construction industry in the southeastern Swiss canton of Graubünden. The probes resulted in a CHF11 million (US$11.1 million) fine.
The penalty handed down on Tuesday, September 3, concerns investigations into agreements between 12 companies on inflated road construction costs, as well as how the tenders would be divided up among themselves. Civil engineering firms in the High Engadin region were also found to have colluded over different building sites for private and commercial buildings.
Around 650 construction tenders in Graubünden between 2004 and 2010 were compromised and a total of 40 companies were involved in the price-fixing. The total amount of fines imposed by Comco is around CHF20-25 million (US$20.4-25.5 million).
The scam was brought to Comco’s attention by a whistleblower who felt his complaints were not being taken seriously by the local authorities.
Full Content: 7 News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI