Construction cartel faces another beating

Vox Populi Vox Dei

High Tory
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Good. As far as I am aware, no-one has gone to jail for this.

Johannesburg - Fifteen of the construction firms which were fined R1.46bn over a collusion racket will be facing a host of civil damages claims, reported City Press on Sunday.

Last year the Competition Commission fined the major construction firms a collective R1.46bn for anti-competitive behaviour, and inclusive tendering relating to projects concluded between 2006 and 2011.

Now, some of the largest construction companies in the country are set to be slammed with civil damages claims.

The hardest hit appears to be WBHO, which has 27 claim certificates issued against it by the competition tribunal.

The certificates mean those making the claim do not have to prove in court collusion took place, just the quantity of the damages that should be due to them as a result of the companies’ illegal conduct.

Raubex (17), Stefanutti Stocks (16), Murray & Roberts (14), Basil Read (13), Aveng (13) and Haw & Inglis (12) also feature.

Projects for which certificates have been issued include:

- The Cape Town Stadium,
- The FNB Stadium,
- Mbombela Stadium,
- The Gauteng freeway improvement project,
- Durban’s International Convention Centre,
- A University of Cape Town women’s residence,
- A Coega office block development,
- The Berg River dam,
- The Braamhoek quarry dam,
- The Bayhead road extension; and
- The Khangela Bridge.

Split across sectors, the projects cover roads (77), industry (28), stadiums (17), residential (11), water infrastructure (4), municipal infrastructure (3) and retail (1).

http://www.fin24.com/Economy/Construction-cartel-faces-more-claims-20140316
 
The love for money.... it just never stops.

Yip. All the senior executives no doubt got handsome bonuses for "amazing performance" during the period of collusion. What a sham. Such a pity that the Commission can only fine up to 10% of a company's revenue - although I believe it was quite a bit lower in this case due to most of the companies not fighting the findings in court.
 
The anc takes bribes for tenders. The fat cat businesses colluded
And the fines go into the pockets of the fat @rsed corrupt anc and so the circle is complete
 
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