With Friday’s announcement of the first-ever extradition of a foreign executive on criminal antitrust charges to the United States, the US Department of Justice has won a major victory in its effort to prosecute and deter international cartels. Combined with the increased international trend towards criminalization of cartel activity, Friday’s extradition announcement represents a significant cautionary precedent for corporations and individuals alike.
A Major Milestone in DOJ Cartel Prosecution -
The US Department of Justice announced on Friday that they have secured the first-ever extradition of a foreign national to the United States on an antitrust charge. The transfer in custody of Italian executive Romano Pisciotti from Germany comes on the heels of a years-long investigation by the DOJ and other agencies into bid rigging in the marine hose industry, and marks a growing trend towards increasingly aggressive cross-border cooperation between criminal antitrust enforcers.
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