ERJ staff report (DS)
Washington DC -- A former US executive of Manuli Rubber Industries SpA has agreed to plead guilty and serve jail time for participating in a conspiracy to rig bids, fix prices and allocate market shares of marine hose in the United States and elsewhere, the Department of Justice said.
A one-count felony charge was filed last Thursday in US District Court in Houston against Charles Gillespie. Gillespie is a former regional manager responsible for the sale of marine hose of Manuli Rubber Industries' US operations based in the Fort Lauderdale, Florida area. Under the terms of his plea agreement, which is subject to court approval, Gillespie has agreed to serve 12 months and one day in jail, pay a $20,000 (Euro 12 633) criminal fine and cooperate fully in the Department's ongoing investigation.
Eight executives were arrested on May 2, 2007, in Houston and San Francisco and charged for their role in the marine hose cartel, following their participation in a cartel meeting in Houston. The case is currently set to go to trial in May 2008.
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Press release from US Department of Justice