President of Iowa Concrete Ready Mix Company Charged with Conspiring to Violate the Sherman Act
On November 30, 2010, charges were filed in the U.S. District Court, Sioux Falls, Iowa, against Chad Van Zee, President, Tri-State Ready Mix, Rock Valley, Iowa, charging him with violating the Sherman Act. Mr. Van Zee with conspiring with Steve Vanderbrake, Executive, GCC Alliance Concrete, Inc., to increase the price on ready-mix concrete, and sell that concrete at collusive and noncompetitive prices in Iowa, thus affecting the interstate trade and commerce of that product.
It is alleged that Mr. Vanderbrake conspired to manipulate the market via rigged bids and territorial allocations with Siouxland Concrete Company on twelve projects which included two Iowa Department of Transportation projects and one Nebraska Department of Roads project. Of the twelve projects, eleven went to Siouxland Concrete Company and one went to GCC Alliance Concrete, Inc. The value of commerce affected is currently unknown; however, the projects ranged in value between $200,000 to approximately $1 million.
This investigation was worked jointly with the Federal Bureau of Investigation, United States Attorney's Office, and the Department of Justice Antitrust Division's Chicago Field Office.
Note: Indictments, informations, and criminal complaints are only accusations by the government, all defendants are presumed innocent unless and until proven guilty.