Does This Happen In The Uk ?

[Bizarra]

A motor company and its director will be sentenced next month by the Central Criminal Court for fixing car prices as a member of a cartel, in breach of the Competition Acts.

Patrick Duffy (aged 52) is a co-director of Duffy Motors Limited which trades as PG Duffy and Sons at Naas Road, Newbridge, County Kildare. Mr Duffy and the company pleaded guilty to entering into and implementing agreements with other Leinster car dealers to fix prices of Citroen vehicles.

Mr Duffy pleaded guilty to two counts of, as a director of a company, authorising it to enter into and to implement an agreement with other undertakings to prevent, restrict and distort competition by directly or indirectly fixing prices of Citroen cars, within the province of Leinster on dates between June 24, 1997 and June 18, 2002, contrary to section four of the 1991 Act and section two of the 1996 Act.

He also pleaded guilty to two similar charges on behalf of the company.

Mr Justice Liam McKechnie asked lawyers to prepare written submissions on the sentencing principles applicable to the case and listed it for sentence on February 23, 2009.

Mr Justice McKechnie heard that two other members of the CDA had been prosecuted in the Circuit Criminal Courts in Dundalk and Trim for entering into agreements to fix prices. They received three-month suspended jail terms and fines of €12,000 and €20,000.

[Boro Sera]

Greedy people ripping the rest of us off??

Happens all the time in England !

[john1944]

Greedy people ripping the rest of us off??

Happens all the time in England !

The maximum sentence for this offence in Iraq, is death by beheading, 45 years in prison, or a $5 fine.

[bothwell_buyer]

The provision of milk in the UK suffered the same fate not so very long ago...... and when I was working in the Financial Sector, I knew there was a Group made up of senior Bank officials who met a few times a year and who agreed such things as how much they would all charge for bouncing a cheque.....that was 20 years ago. Its only now that the banks are being tested in court over extortion !!! Fitting that a few of them have lost their jobs (but not their money :angry: )

[hertsnminds]

British Airways and Virgin have been done for similar practices. The irony being Virgin blew the whistle and got away with it whilst BA got stung even though both companies benefitted from the deal.

The Bank of England set an interest rate and every financial institution make up their own rules as to how they will use it.

[cabcurtains]

Volvo got hammered for this in 1999, they didn't get fined though as they were caught just before new legislation came in which would of cost them up to 10% of their annual sales.......hmmm

I have (in the past) worked for dealer groups where this could of happened, you receive a call from a branch in group and it goes like this " Keep your eyes peeled for Mr Jones, we have just offered x for his swapper and the new car at x" etc etc, proving that though would be tricky. I wonder if it still happens?