FORT LAUDERDALE (CBSMiami/AP) —An Italian former executive was extradited to the U.S. to face charges in an alleged global price-fixing conspiracy.
Federal prosecutors say Romano Pisciotti was flown from Germany to South Florida and had an initial court appearance on Friday. He did not yet have an attorney. Pisciotti is a former executive at the Italian firm Parker ITR Srl.READ MORE: Miami-Dade, Broward County Public Schools To Continue Free Summer Food Distribution
Pisciotti is accused of conspiring with others to fix prices for marine hose, which is used to transfer oil between tankers and storage facilities.
According to the Department of Justice, he a charge of, “participating in a conspiracy to suppress and eliminate competition by rigging bids, fixing prices and allocating market shares for sales of marine hose sold in the United States and elsewhere.”
If convicted, he faces a maximum 10-year prison sentence and a $1 million fine.READ MORE: WalletHub Survey Ranks Florida Second Most 'Fun State'; Miami Nightlife: 'Anything, But Affordable'
Justice Department officials say Pisciotti is the first person extradited to the U.S. in an antitrust case.
“This first of its kind extradition on an antitrust charge allows the department to bring an alleged price fixer to the United States to face charges of participating in a worldwide conspiracy,” said Assistant Attorney General Bill Baer in charge of the Department of Justice’s Antitrust Division.
Five companies and nine people have already been convicted.MORE NEWS: SEE IT: Puppy Back With Owner After Dognapping At West Miami-Dade Animal Clinic Caught On Cam
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