US charges two ex-Air France vice presidents with cargo price fixing

TWO ex-Air France cargo executives, former vice presidents Marc Boudier and Jean Charles Foucault, have been charged with price fixing from 2004 to early 2006, and now face million dollar fines and 10 years in jail if convicted, say US Justice Department prosecutors.


Each has been indicted by a federal grand jury in Chicago on charges of conspiracy to restrain trade in violation of the Sherman Antitrust Act, reported Bloomberg. "Boudier and Foucault carried out a conspiracy by fixing and coordinating rates on air cargo shipments to certain US locations and elsewhere," prosecutors said.


Each worked for Paris-based Societe Air France, a unit of Air France-KLM, and are implicated in an investigation into suspected price-fixing among 21 airlines.


The indictment also says the pair agreed with others to refuse to pay their customers commissions on surcharges for air cargo shipments to and from the US and elsewhere, said the Justice Department.


According to the indictment, Boudier, Foucault and co-conspirators carried out the conspiracy by participating in or directing the participation of subordinate employees in meetings, conversations and communications to discuss rates for air cargo shipments to certain United States locations and elsewhere as well as surcharges for air cargo shipments to and from the United States and elsewhere.


To date, more than US$1.8 billion in criminal fines have been imposed and four executives have been sent to prison. Charges are pending against the remaining 17 executives, including Boudier and Foucault.
(Source:http://www.schednet.com)