- Associated Press - Sunday, April 6, 2014

FORT LAUDERDALE, Fla. (AP) - An Italian former executive at a marine hose company has been extradited to the U.S. to face charges in an alleged global price-fixing conspiracy.

Federal prosecutors say Romano Pisciotti was flown from Germany to South Florida and had an initial court appearance on Friday. He did not yet have an attorney. Pisciotti is a former executive at the Italian firm Parker ITR Srl.

Pisciotti is accused of conspiring with others to fix prices for marine hose, which is used to transfer oil between tankers and storage facilities. If convicted, he faces a maximum 10-year prison sentence and a $1 million fine.

Justice Department officials say Pisciotti is the first person extradited to the U.S. in an antitrust case. Five companies and nine people have already been convicted.



Click to Read More

Click to Hide