Cargolux Execs Plead Guilty Over Price-Fixing

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Published: December 9, 2011

Cargolux said on Friday two of its executives had agreed a plea deal with US justice authorities and accepted 13 month jail terms for fixing prices for air cargo.

Ulrich Ogiermann, the Luxembourg-based freight carrier’s former chief executive and now special adviser, and Robert Van de Weg, senior vice president of sales and marketing, pleaded guilty to conspiring to suppress competition by coordinating certain surcharges for shipments to and from the United States.

A total of 22 airlines and 21 executives have now been charged over price fixing in the air freight industry, with more than USD$ 1.8 billion in fines being imposed.

Ogiermann was accused of participating in the conspiracy from at least October 2001 to February 2006 and Van de Weg from December 2003 until the same date. Both have also agreed to pay a USD$ 20,000 fine and to cooperate with the investigation.

Cargolux, which pleaded guilty in May 2009 in related proceedings and agreed to a fine of USD$ 119 million, said the executives’ guilty pleas brought the matter to a close for them and for the company.

It added that neither of the two executives had derived any personal benefit from the activities under investigation.

Airwise News Top Stories

Tagged with: , , , , ,

Email This Post Email This Post