(FinancialHealth.net) – Price fixing is a deplorable crime. It’s a breach of trust and it hurts consumers. That’s why the latest news in the Bumble Bee case is so satisfying.
On June 16, The DOJ announced Christopher Lischewski, the former Bumble Bee Foods CEO, is going to serve more than 3 years (40 months) in prison and pay a criminal fine of $100,000. The sentence was handed down in a price-fixing scheme that involved the major canned tuna companies. The sentence follows an order requiring StarKist Co. to pay a fine of up to $100 million. The Bumble Bee corporation agreed to pay $25 million.
Not TUNA! 😲😠
Former Bumble Bee CEO Sentenced To Prison For Fixing Prices Of Canned Tunahttps://t.co/Sy8NFxOOKB
— T (@themitchmak) June 17, 2020
Assistant Attorney General Makan Delrahim said the DOJ will bring “executives who cheat American consumers” to justice, especially when the crimes related to “the most basic necessity, food.”
The crime is a shocking one. In this case, law enforcement officials believe it impacted canned tuna sales totaling more than $600 million. How are Americans supposed to trust they’re paying a fair price at the grocery store when companies continue to commit offenses like this one?
~Here’s to Your Financial Health!
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