6 shippers agree to plead guilty to price fixing

AP News
Posted: Sep 28, 2011 2:13 PM
6 shippers agree to plead guilty to price fixing

The Justice Department says six Japanese freight forwarding companies have agreed to plead guilty and pay nearly $47 million for conspiring to fix fees charged for shipping air cargo from Japan to the U.S.

Justice Department spokeswoman Gina Talamona says a probe of the freight-forwarding companies grew out of a separate price-fixing investigation of airlines that carry freight. In that massive case, 21 executives from various airlines were charged and $1.8 billion in criminal fines were imposed.

The companies and fines in the freight forwarding case were Nippon Express, fined $21.1 million; Kintetsu World Express, $10.4 million; Nishi-Nippon Railroad, $4.6 million; Hankyu Hanshin Express, $4.5 million; Vantec Corp., $3.3 million; and Nissin Corp., $2.6 million.

Court papers say the conspiracy ran from September 2002 to at least November 2007.