Ex-Bumble Bee CEO Gets 3-Year Prison Term, a Rarity in Antitrust – Bloomberg

Former Bumble Bee Foods LLC chief executive officer Chris Lischewski was sentenced to more than three years in prison for his role in a price-fixing racket, a rare outcome in a U.S. antitrust crackdown. In December, Lischewski was found guilty by a San Francisco federal jury of conspiring with colleagues and other industry executives to manipulate canned tuna prices, capping a marathon U.S. investigation that shook the packaged seafood industry and ultimately forced Bumble Bee into bankruptcy. U.S. District Judge Edward Chen in San Francisco imposed a $100,000 fine on Lischewski Tuesday on top of a 40-month term of incarceration. Lischewski’s sentencing comes as the meat industry is facing the most aggressive attack by antitrust authorities in a century. Prosecutors have charged executives at two poultry producers, including the CEO of Pilgrim’s Pride Corp., and hinted at additional charges in the chicken industry. The Justice Department is setting its sights on beef companies in a separate investigation, issuing subpoenas to the four biggest producers — Tyson Foods Inc., JBS SA, Cargill Inc. and National Beef Inc.

Ex-Bumble Bee CEO Gets 3-Year Prison Term, a Rarity in Antitrust – Bloomberg

One Comment Add yours

  1. Now I know why I could not find Bumble Bee Tuna for ages. I was blaming it on COVID. Glad to see prison terms for CEOs happening – when will it happen in the world of Finance and Fossil Fuel?

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