Latvian Competition Council (KP) has fined ten companies involved in the so-called construction cartel case more than EUR 16 million, as confirmed by KP representative Zane Gorskova.
KP does not reveal the names of those companies and the individual amounts they have been fined.
Gorskova explained that KP legal team was working on the final decision for each company.
“Once the ten companies in question have been informed of KP’s decision to fine them, the decision will be published officially next week,” she said.
The so-called construction cartel criminal case was terminated by the Corruption Prevention and Combating Bureau (KNAB) this year. Among the suspects were businessmen and state officials. KP took over the investigation of this cartel. 18 companies are suspected to have been part of this cartel.
KP commenced the construction cartel case in August 2019.
A cartel is one of the most severe violations of competition there is. Unlike KNAB, which requires a criminal procedure in order to prove guilt and estimate damages to the economy, signs of a cartel are enough for KP to step in. (BNN/Business World Magazine)