Price-fix firm fined a record £16m

The Jewish Chronicle - - WORLD NEWS -

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.”

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