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DOJ charges 7 Chinese execs, 4 companies in alleged conspiracy that drove up cost of global shipping
Over four years, the Justice Department alleges, the suspects doubled the cost of the containers, which increased the manufacturers' profits by 100-fold during the 2020 pandemic.https://justthenews.com/nation/crim...panies-conspiracy-drove-costs-global-shipping
Superseding Indictment : U. S. v. China International Marine Containers (Group) Co., Ltd. et al.
https://www.justice.gov/atr/media/1441281/dl?inline
Defendant SIONG SENG TEO, also known as and S.S. TEO, was employed by SINGAMAS as Chief Executive Officer and Chairman. TEO is believed to be a resident of the Republic of Singapore.
Singamas shares plunge after US DOJ allegations against CEO Teo Siong Seng
May 21, 2026https://www.straitstimes.com/busine...us-doj-allegations-against-ceo-teo-siong-seng