Aug 16 (Reuters) - Australia's Macquarie-owned BINGO Industries on Tuesday pleaded guilty to criminal cartel offences related to price fixing for demolition waste services in Sydney in 2019.
The country's competition watchdog said that post an investigation it charged the waste management firm for alleged breaches of the cartel provision of the competition and consumer act and that the matter will be heard by the Federal Court.
The company had in 2019 allegedly teamed up with its competitors Aussie Skip Bin Services and Aussie Skips Recycling to fix and increase prices to supply bins, among others, for building and demolition waste in Sydney.
In 2020, BINGO confirmed that it was a part of the Australian Competition and Consumer Commission's (ACCC) investigation on price adjustments in the waste sector. (https://reut.rs/3Qld
The regulator also said that Bingo's former Chief Executive Officer Daniel Tartak has been charged with two criminal offences in the matter.
BINGO, in a separate statement, said that it had cooperated with the ACCC and the Commonwealth Department of Public Prosecutions throughout the investigations and, "regrets that the matter occurred." (https://bit.ly/3A2ireq)
Sydney-based BINGO was bought out by by funds managed by Macquarie Group (MQG) last year. (https://reut.rs/3duWBIY)
News: MQG Macquarie-owned BINGO pleads guilty to price-fixing charges
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