Another Promotional Products Company Admits to Price Fixing
Another promotional products business has pleaded guilty to price fixing. This comes after Zaapaaz Inc. did the same just over two weeks ago.
According to the Houston Chronicle, Custom Wristbands, Burbank, Calif., and its owner and CEO Christopher Angeles pleaded guilty to communicating via text and online messaging platforms with other conspirators, agreeing to set prices of customized promotional products.
The company, which does business as Kulayful Silicone Bracelets, Kulayful.com, Speedywristbands.com, Promotionalbands.com, Wristbandcreation.com and 1inchbracelets.com, will pay a fine of $409,342.
This plea deal is also part of an ongoing federal antitrust investigation in online promotional products companies. We reported before that Totally Promotional, a Coldwater, Ohio-based promotional products company, was being investigated by the FBI back in July.
Since this is part of an ongoing investigation, it is not out of the realm of possibility for more companies to surface in the case.