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Former Sea Star president found guilty of price-fixing

Regulatory

Thursday, January 31, 2013

Frank Peake, the former president of Sea Star Line, was found guilty this week after a two-week jury trial held in the U.S. District Court for the District of Puerto Rico of participating in a conspiracy to fix rates and surcharges for transportation of freight between the continental United States and Puerto Rico, the Justice Department said. Peake Peake was convicted of price-fixing in violation of the Sherman Act, which carries a maximum penalty of 10 years in prison and a $1 m...

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