Iowa Ready-Mix Company Pled Guilty to Violations of the Sherman Antitrust Act
On June 20, 2011, Tri-State Ready Mix, Inc. (TRM) pled guilty in U.S. District Court, Sioux Falls, Iowa, to Sherman Antitrust Act charges for their role in the scheme to manipulate the ready-mix concrete market.
TRM admitted that as early as January 2006 and continuing through August 2009, Chad Van Zee, owner and president, conspired with others to fix ready-mix concrete prices and/or submit non-competitive and rigged bids for ready-mix sold in Iowa.
On June 21, 2011, Chad Van Zee, co-conspirator, was sentenced to 45 days incarceration followed by 36 months of supervised release and 80 hours of community service. In addition, Van Zee, co-conspirator, was ordered to pay a $50,000 fine and pay a $100 special assessment. During the period of the conspiracy, TRM had ready-mix sales that exceeded $2 million.
This investigation was conducted jointly with the Federal Bureau of Investigation, the US Attorney's Office-Antitrust Division, and the U.S. Department of Justice-Antitrust Division.