WASHINGTON (AP) — The Justice Department says three South Korean companies have agreed to pay $236 million to settle allegations they were part of a bid-rigging scheme that overcharged the US military for fuel at bases in South Korea.
Assistant Attorney General Makan Delrahim announced the settlement of the criminal and civil charges on Wednesday.
 |
(AP) |
The three companies, SK Energy Co. Ltd., GS Caltex Corporation, and Hanjin Transportation Co. Ltd., will pay about $82 million in criminal fines. They’ll also pay $154 million in civil damages.
Delrahim said investigators believe the three companies and others rigged bids and fixed prices for more than a decade.
He said the Defense Department paid “substantially more” for fuel because of the scheme.
One of the defendants, Hanjin, said in a statement that it was responsible for just a fraction of the overall penalty. The company said it was paying a $1.39 million criminal fine along with a $6.18 million civil settlement and was cooperating with an ongoing investigation into fuel supply contracts.
“HJT is committed to complying with the antitrust and competition laws and values its decades-long relationship with the US military,” the statement said.
