Preface – Forensic Economics in Action: The Lysine Cartel

Preface – Forensic Economics in Action: The Lysine Cartel 2 PREFACE spiracies were well documented and among “...the most spectacular prosecution successes [of the DOJ] in memory” (Mendel and Dyhrkopp, 1998, p. B5). The federal government’s prosecutors followed a string of precedent-setting fines by obtaining a guilty verdict in a criminal price-fixing trial in Chicago in September 1998 against three former high-level executives of Archer Daniels Midland Co. (Eichenwald, 1998). International cartels are pandemic. In February 1997, the Antitrust Division of the DOJ reported that more than 20 grand juries were investigating global cartels; by September 1998, the number of such grand juries had risen to 30 (Mendel and Dyhrkopp, 1998). In 1998, the FBI doubled the number of person-hours spent investigating international price-fixing allegations in the previous year (Spratling, 1998). For the two federal fiscal years 1997 and 1998, more than 90 percent of the criminal fines collected by the Antitrust Division have been levied against inter- national cartels; the latter totaled more than $400 million. Whereas prosecutions against cartels containing foreign companies constituted less than one percent of all Division actions ten years ago, in the last two years about two-thirds of such prosecutions have involved foreign companies. Companies involved in the lysine and citric-acid cartels http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

Preface – Forensic Economics in Action: The Lysine Cartel

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2001 by Kluwer Academic Publishers
Subject
Economics; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1023/A:1026553610558
Publisher site
See Article on Publisher Site

Abstract

2 PREFACE spiracies were well documented and among “...the most spectacular prosecution successes [of the DOJ] in memory” (Mendel and Dyhrkopp, 1998, p. B5). The federal government’s prosecutors followed a string of precedent-setting fines by obtaining a guilty verdict in a criminal price-fixing trial in Chicago in September 1998 against three former high-level executives of Archer Daniels Midland Co. (Eichenwald, 1998). International cartels are pandemic. In February 1997, the Antitrust Division of the DOJ reported that more than 20 grand juries were investigating global cartels; by September 1998, the number of such grand juries had risen to 30 (Mendel and Dyhrkopp, 1998). In 1998, the FBI doubled the number of person-hours spent investigating international price-fixing allegations in the previous year (Spratling, 1998). For the two federal fiscal years 1997 and 1998, more than 90 percent of the criminal fines collected by the Antitrust Division have been levied against inter- national cartels; the latter totaled more than $400 million. Whereas prosecutions against cartels containing foreign companies constituted less than one percent of all Division actions ten years ago, in the last two years about two-thirds of such prosecutions have involved foreign companies. Companies involved in the lysine and citric-acid cartels

Journal

Review of Industrial OrganizationSpringer Journals

Published: Oct 3, 2004

References

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