Ex-Air France Cargo Executives Charged With Price Fixing
April 26, 2011, 5:30 PM EDTBy Andrew Harris
(Updates with excerpt from Justice Department statement in third paragraph.)
April 26 (Bloomberg) -- Two former Societe Air France cargo executives were charged with conspiring to fix international freight shipment prices, the U.S. Justice Department said.
Ex-vice presidents Marc Boudier and Jean Charles Foucault face a single charge each of conspiracy to restrain trade in violation of the Sherman Antitrust Act, a crime punishable by as much as 10 years’ imprisonment and a fine of as much as $1 million, prosecutors said today in a statement. The men were indicted by a federal grand jury in Chicago, the government said.
“Boudier and Foucault carried out a conspiracy by fixing and coordinating rates on air cargo shipments to certain U.S. locations and elsewhere,” from August 2004 to February 2006, the Justice Department said.
The indictments are the most recent in a U.S. government probe that has involved charges against 21 airlines and 21 executives.
Societe Air France, based in Roissy, France, is a unit of Paris-based Air France-KLM.
Attorney information wasn’t immediately available for Boudier, a former executive vice president of Air France Cargo, and Foucault, formerly vice president for sales and marketing of Air France Cargo.
The case is U.S. v. Boudier, U.S. District Court, District of Northern Illinois (Chicago).
--Editors: Charles Carter, Stephen Farr
To contact the reporter on this story: Andrew Harris in Chicago at aharris16@bloomberg.net.
To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.
