Sea Star Line’s former president must serve a five-year prison sentence for his role in a conspiracy to fix prices for shipping goods to Puerto Rico, the First Circuit ruled.
A federal judge in Puerto Rico sentenced former Sea Star Line president Frank Peake to five years in prison for his leadership role in conspiracy to fix prices charged by ocean freight companies that operate between the U.S. and Puerto Rico.
Peake’s is the longest prison sentence ever imposed for an antitrust violation.
His former employer, Sea Star, pleaded guilty to antitrust violations in 2011, and was ordered to pay a $14.2 million criminal fine. Including Sea Star’s fine, the three largest freight carriers have paid more than $46 million in penalties.
The First Circuit upheld Peake’s sentence on Wednesday, despite finding that the prosecutor made improper comments at trial. It called Peake’s crime “one of the largest antitrust conspiracies in the history of the United States.”
Full content: Courthouse News Service
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