WASHINGTON, April 24 (Reuters) – A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.
Romano Pisciotti, who is Italian, had been flown into the United States from Germany in early April in the first extradition on charges of breaking antitrust law, the department said.
Marine hose is used to move oil between storage facilities and tankers.
Five companies – Parker ITR, Bridgestone Corp, Trelleborg, Dunlop Marine and Oil Ltd, and Manuli Rubber Industries SpA, a Florida subsidiary of Manuli SpA – have pleaded guilty to price-fixing in the marine hose industry, the department said. (Reporting by Diane Bartz; Editing by Phil Berlowitz)
© 2014 Thomson Reuters. All rights reserved.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,903 members that receive our newsletter.
Have a news tip? Let us know.
(Bloomberg) — Canada is working with Nordic countries to create a new Arctic security coalition that would exclude Russia and offer a place to coordinate on defense, intelligence and cyber...
(Bloomberg) — An explosive-laden drone boat slammed into an oil tanker as it sailed past the coast of Yemen, a sign Israeli airstrikes haven’t deterred the country’s Houthi militants from...
(Bloomberg) — The US is concerned Russia may supply missiles to the Houthis in Yemen, an American official said, a move that could stoke further Middle East unrest by strengthening...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,903 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
