USX Fined $4.1 Million: District Judge E....
From Times Staff and Wire Reports
USX Fined $4.1 Million: District Judge E. B. Haltom levied the fine for the company’s agreeing to inflate the pension funds of four United Steelworkers union officials in exchange for the officials’ cooperation in obtaining a labor agreement. The judge also ordered two of the union officials to prison for their role in the scheme. Haltom sentenced E. B. Rich and Thermon Phillips to 36 months and 30 months in prison, respectively. The fine was the maximum the firm could have received after being convicted in July of conspiracy, mail fraud and federal labor law violations. Haltom also ordered USX to pay restitution of $289,995 to two pension funds.
