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ARTICLE · 16 JUNE 2022

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First Custodial Sentences For Cartel Conduct In Australia

Herbert Smith Freehills Kramer LLP
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Last week, the first custodial sentences were handed down in relation to contraventions of Australia's criminal cartel laws, with custodial sentences ranging from nine months to two years and six months.

AustraliaAntitrust/Competition Law
Patrick Gay
Patrick Gay
Christine Wong
Christine Wong
Philip Aitken
Philip Aitken
Tomas Kemmery
Tomas Kemmery
Emily Ainsworth
Emily Ainsworth

Last week, the first custodial sentences were handed down in relation to contraventions of Australia's criminal cartel laws, with custodial sentences ranging from nine months to two years and six months.

Background

In April 2019 criminal cartel charges were brought against Vina Money Transfer Pty Ltd (Vina Money) for allegedly fixing the Australian dollar / Vietnamese dong exchange rate and fees they charged their customers. Charges were also brought against five individuals for being knowingly concerned in those alleged offences.

On 3 February 2022, the company, Vina Money, and three individuals pleaded guilty to these offences. A fourth individual pleaded guilty on 17 May 2022. The fifth accused has not pleaded guilty, and his trial is set to commence in September this year.

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