Last month, a federal judge sentenced a promotional products CEO to prison for antitrust violations. A judge accepted the man’s guilty plea for conspiring to fix prices on silicone wrist bands in the United States.
The man pleaded guilty in August 2017 for his role in a wide-ranging conspiracy to implement illegal price manipulations. Federal prosecutors say the man met with other competitors, exchanged texts and emails in support of the conspiracy. The illegal price manipulations took place between 2014 and 2016. The company, Custom Wristbands, also agreed to pay more than $400,000 in criminal fines. The judge sentenced the CEO to serve 30 days in federal prison and complete 12 months of supervised release. In addition, the man must pay a $20,000 fine.
The case is one of several pending against the other conspirators. The Justice Department recently filed cases against the CEO and COO of Netbrands Media for their alleged role in the case. In November, the DOJ filed antitrust charges against Gennex Media and its owner resulting from this investigation. In August 2017, the DOJ filed similar charges against the CEO of Zaappaaz, Inc. That company agreed to pay a $1.9M criminal fine. The CEO of Zaappaaz, Inc., will return to court for sentencing in April 2019.
Los Angeles Antitrust Attorney
The government takes price fixing and other anticompetitive practices seriously. From this case, you can see that antitrust prosecutions can take a long time. Nonetheless, government prosecutors are relentless. When you face anticompetitive charges, hire an experienced antitrust attorney like Robert Helfend. Mr. Helfend has nearly 35 years of experience in criminal defense. He takes federal criminal cases in any circuit in the United States.
Federal defendants often feel as though they have no choice but to plead guilty. This isn’t the case! An aggressive, experienced federal criminal defense attorney can make a major difference in the outcome of your case. Don’t assume that a guilty plea is your best bet. Instead, work with an experienced criminal defense attorney to help you navigate your case.
Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County antitrust case.
Photo Credit: Jay Shouldol, via Flickr.com