Price-fix firm fined a record £16m
A COMPANY owned by one of Australian Jewry’s biggest benefactors has been fined a record £16m for colluding in the nation’s largest cartel case, writes Dan Goldberg in Sydney.
Richard Pratt’s Visy Industries was fined in the Federal Court of Australia on Friday following Mr Pratt’s admission that his company had engaged in price-fixing with main rival Amcor between 2000 and 2004. Amcor was not fined because of a whistleblowers’ deal.
Mr Pratt, believed to be worth £2.2bn, said the fine would not affect his philanthropy. The Pratt Foundation gives more than £5m a year to mostly Jewish causes.
Transcripts disclosed to the court revealed blatantly antisemitic state- ments against Polish-born Mr Pratt. A 2002 conversation between two former senior Amcor executives included one man allegedly saying: “You know what the Jews are like. No wonder they own half the world.”
The other reportedly replied: “And you wonder why, ah, Hitler wanted to stitch them up, too.”