Executive Agrees to Plead Guilty to Bid Rigging

Monday, August 13, 2007
The vice president of a Virginia marine products company has agreed to plead guilty, serve a sentence and pay a criminal fine for his role in a conspiracy to rig bids and allocate customers with respect to marine products purchased by the U.S. Navy, the U.S. Coast Guard, and other public and private entities, the Department of Justice announced.

William Alan Potts, a British citizen who is vice president of a marine products company located in Clearbrook, Va., entered a plea agreement in the U.S. District Court in Norfolk, Va. According to the one-count felony charge, Potts participated in a conspiracy between December 2000 and May 2003 to allocate customers and rig bids for contracts to sell plastic marine pilings. The conspirators discussed and agreed among themselves which of them would win contracts from the Department of Defense (DOD), the Department of Homeland Security and others. The conspirators engaged in discussions by telephone, facsimile and electronic mail, the Department said.

Under the plea agreement, which is subject to court approval, Potts has agreed to cooperate with the Department's ongoing investigation. Potts' previous and continuing cooperation will be considered by the court at sentencing. His fine will be determined by the court. Potts is the fourth executive to agree to plead guilty in the Department of Justice's ongoing antitrust investigation in the marine products industry. Plastic marine pilings are substitutes for traditional wood timber pilings. They are often used in port and pier construction projects where durability and environmental considerations make them an alternative to traditional wood pilings. Potts' former supervisor, Robert Taylor, previously pleaded guilty to multiple felony counts, including charges that he participated in the plastic marine pilings conspiracy. Taylor agreed to serve time in prison and pay a $100,000 criminal fine. Other executives to plead guilty in this investigation have included Donald Murray, a former chief financial officer of Potts' employer, who agreed to plead to two felony counts. He was charged for participating in the bid-rigging and customer allocation conspiracy among manufacturers of foam filled marine fenders and buoys. Murray agreed to serve 18 months in prison and pay a $75,000 criminal fine. Gerald Thermos, a California executive, also pleaded guilty and agreed to serve four months in jail and serve four months in home detention, and pay a $50,000 criminal fine for his involvement in a related bid-rigging and customer allocation conspiracy. Taylor, Murray and Thermos have not been sentenced yet.

The ongoing investigation is being conducted by the Antitrust Division's National Criminal Enforcement Section, the DOD's Office of Inspector General, DCIS, and the U.S. Navy Criminal Investigative Service.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

S&P Raises Steamship Mutual outlook to Positive

Poor’s has revised its outlook on Steamship Mutual to Positive from Stable. The A- financial strength rating has been reaffirmed. In their announcement Standard

SSA Welcomes Decision To Extend BEO

The Singapore Shipping Association (SSA) has welcomed the decision by Singapore’s Minister for Trade and Industry to extend the Competition (Block Exemption


SSA Welcomes Decision To Extend BEO

The Singapore Shipping Association (SSA) has welcomed the decision by Singapore’s Minister for Trade and Industry to extend the Competition (Block Exemption

Moore Stephens Highlights Potential Tax Issues for Shipping

As part of the Government’s drive to encourage voluntary compliance with the tax rules, it will legislate to introduce a new requirement that large businesses

SSAB, Aspo ESL Shipping Pact On Sea Transport

The global steel company SSAB and Aspo Group’s ESL Shipping Ltd have signed a long-term frame agreement covering sea freight for SSAB’s inbound raw material sea

Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0927 sec (11 req/sec)