Ex-Bayer exec Petersen to serve four months in price-fixing case
San Francisco--Former Bayer Corp. executive Martin Petersen has been sentenced to four months in prison and fined $50,000 for his role in the ongoing global rubber chemicals price-fixing investigation.
Petersen, a German national, was head of global marketing and sales for Bayer's rubber business during 2000-2001. He agreed in November 2004 to plead guilty to participating in the conspiracy and to assist the government in the investigation.
Petersen faced maximum sentences of three years in jail and $350,000 in fines. He has been ordered to serve the sentence at the Federal Corrections facility in Lompoc, Calif., with the sentence to begin no later than noon on Nov. 18, according to court documents.
From Rubber & Plastics News (A Crain publication)