For much of the twentieth century the diamond company De Beers controlled a large share of the global rough diamond trade, a dominance that repeatedly drew antitrust scrutiny in the United States, where the company had long avoided direct operations because of outstanding price fixing charges. In 2004 De Beers pleaded guilty to a price fixing charge related to industrial diamonds and paid a fine, clearing the way for the company to resume direct business activity in the United States.
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1. Wikipedia, De Beers
WikipediaLegal issues, industrial diamonds sectionQuote, Legal issues, industrial diamonds section
In 2004, De Beers pled guilty and paid a US$10 million fine to the United States Department of Justice to settle a 1994 charge that De Beers had colluded with General Electric to fix the price of industrial diamonds.
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