Three jailed as OFT gets tough

Three businessmen have been jailed for their part in a price-fixing ring in the first ever convictions for a cartel offence since criminal prosecution powers were given to the Office of Fair Trading under the Enterprise Act.

The news will send shudders through the construction industry which is currently being investigated by the OFT.

Peter Whittle, David Brammar and Bryan Allison pleaded guilty at Southwark Crown Court to dishonestly participating in a cartel to allocate markets and customers, restrict supplies, fix prices and rig bids for the supply of marine hose and ancillary equipment in the UK.

John Fingleton, OFT Chief Executive, said : “This first criminal prosecution sends a clear message to individuals and companies about the seriousness with which UK law views cartel behaviour. The OFT will continue to investigate and prosecute cartels vigorously, with the aim of ensuring strong competition within the UK economy."