Bayer Ex-Execs Indicted in Price-Fixing Case
Two former Bayer executives were indicted on charges that they participated in a global conspiracy to fix the price of chemicals used to improve the strength of tires, outdoor furniture, hoses and rubber belts.
Jurgen Ick, former head of Bayer’s Rubber Business Group, and Gunter Monn, the group’s former marketing head, were named in the indictment, returned by a federal grand jury in San Francisco, the U.S. Justice Department said.
Bayer, based in Leverkusen, Germany, has agreed to pay a $66-million fine for its role in the alleged conspiracy.
A former Bayer products manager agreed in May to plead guilty to price-fixing charges and serve a four-month prison term.
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