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Settlement Reached in Iowa Company's Price-Fixing Case
DES MOINES, Iowa (AP) — A northwest Iowa company that pleaded guilty to federal price-fixing charges will pay the state $145,000 in exchange for regulators dropping a one-year ban on government business.
The Iowa Attorney General's office says GCC Alliance Concrete Inc. agreed to the deal after pleading guilty to federal felony charges in May 2011. Federal officials had accused the company of taking part in three separate conspiracies to fix prices and rig bids for the sale of ready-mix concrete. Iowa law automatically disqualifies companies from doing business with the state for one year if they are convicted of violating state or federal competition laws. Steven VandeBrake, a former sales manager for the company, has pleaded guilty to participating in the conspiracies and is now serving a four-year prison term. Most Popular |
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