An Indiana ready mix concrete producing company and its president have agreed to plead guilty and pay fines for fixing the price of ready mix concrete in the Indianapolis metropolitan area, according to a press release from the U.S. Department of Justice.
In a felony case filed in the U.S. District Court in Indianapolis, Hughey Inc., which does business as Carmel Concrete Products, Carmel, Ind., and its president, Scott D. Hughey, were charged with conspiring with their competitors to fix the price at which ready mix concrete was solid in the area from approximately June 2000 until May 2004.
Hughey’s plea agreement, which is also subject to court approval, requires him to pay a fine of $30,000 to $50,000 and to serve a term of imprisonment to be determined by the court. In addition, Hughey has agreed to assist the government in its ongoing investigation.
Carmel Concrete Products is the fourth company and Hughey is the ninth executive to have pleaded guilty or been charged for roles in a price fixing conspiracy. More than $30 million in fines have resulted from the Department of Justice’s antitrust investigation of the ready mix concrete industry, according to the press release.