The ex-MD/CEO of Bingo Industries (Bingo) has pleaded guilty to a charge of aiding and abetting criminal price fixing conduct.
The price fixing took the form of an agreement between Bingo and its competitor Aussie Skip Bin Services to fix and increase prices to supply skip bins for building and demolition waste removal. Bingo pleaded guilty to price fixing charges relating to the same conduct.
Price fixing is anathema to the ACCC, whose focus is on fostering healthy market competition to drive down prices. “Colluding with your competitors to increase prices at the expense of your customers is serious cartel conduct…Action against companies and individuals allegedly involved is a significant part of our work,” according to ACCC Chair Gina Cass-Gottlieb.
Sentencing will take place in the Federal Court in early March 2023. Maximum penalties for an individual convicted of a criminal cartel offence are 10 years’ imprisonment and/or a fine of $444,000.