Singamas CEO Teo Siong Seng Indicted in US Container Price-Fixing Probe
Teo Siong Seng, the CEO of Singamas Container Holdings, has been indicted by a US federal grand jury. The indictment alleges his involvement in a conspiracy to fix prices, rig bids, and allocate the market for shipping containers sold to US customers. This action stems from an ongoing investigation by the Department of Justice's Antitrust Division into the container industry. The alleged conspiracy is said to have occurred between January 2010 and August 2015. If convicted, Teo faces significant penalties including potential prison time and a substantial fine. Singamas has stated the indictment is against Teo personally, not the company.
Official Source: https://theloadstar.com/singamas-ceo-teo-siong-seng-indicted-in-container-price-fixing-probe/
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