US: Subject of first antitrust extradition pleads guilty, lands prison time

The subject of the first successful antitrust extradition has reportedly pleaded guilty to allegations of bid-rigging and price-fixing in the rubber hose industry, landing the individual a prison sentence.

Italian Romano Pisciotti was extradited from Germany earlier this month on charges of participating in the cartel; he will serve two years in prison, reports say. He has also reportedly agreed to pay a $50,000 fine.

In a statement, the Antitrust Division of the Department of Justice said the plea exemplifies the regulator’s “ability to bring to justice who violate antitrust laws even when they attempt to avoid prosecution by remaining in foreign jurisdictions.”

Full content: Maritime Executive

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