Friday, May 13, 2005

Laundering Business Charged With Antitrust Violation

It's the laundering business, but not laundering charges. The DOJ announced charges of a Sherman Act violation against " two executives and their Brooklyn, New York companies for participating in a conspiracy to allocate customers for linen supply services in the New York City metropolitan area..."  It is part of an ongoing investigation into the linen supply industry.   The DOJ press release reports that  several linen supply "companies carried out the conspiracy by agreeing not to compete for each other’s customers, meeting to discuss and affirm their agreement, notifying each other when customers were contemplating switching linen suppliers, and submitting intentionally high non-competitive price quotes or refraining from submitting price quotes to customers."

http://lawprofessors.typepad.com/whitecollarcrime_blog/2005/05/laundering_busi.html

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