usatoday.com – SAN FRANCISCO — StarKist Co. agreed to plead guilty to a felony price fixing charge as part of a broad collusion investigation of the canned tuna industry, the U.S. Department of Justice announced Thursday.
The DOJ said StarKist faces up to a $100 million fine when it is sentenced. Prosecutors allege that the industry’s top three companies conspired between 2010 and 2013 to keep prices artificially high.
“We have cooperated with the DOJ during the course of its investigation and accept responsibility,” said StarKist chief executive Andrew Choe. “We will continue to conduct our business with the utmost transparency and integrity.”
StarKist is owned by South Korean company Dongwon Industries, one of the largest tuna catching companies in the world. The parent company’s website carries pledges to abide by ethical standards and good corporate citizenship.
The scheme came to light when Thai Union Group’s Chicken of the Sea attempt to buy San Diego-based Bumble Bee failed in 2015, according to court records. Chicken of the Sea executives then alerted federal investigators, who agreed to shield the company from criminal prosecution in exchange for cooperation.
Damn even Big Tuna is out here shady AF?! Okay it’s really not that surprising seeing that most corporation’s are getting down like this…trust me..I’m a expert, I’ve binged watched Billions and Succession back to back.