Tim Leiweke has been indicted by the U.S. Department of Justice for conspiracy to rig bidding for an arena at a public university in Austin, Texas. He is charged under Section 1 of the Sherman Act, with potential penalties including 10 years in prison and a $1-million US fine. The indictment alleges that Leiweke influenced a rival company to refrain from submitting a bid, resulting in OVG being the sole qualified bidder. OVG and Legends Hospitality have agreed to pay penalties related to this conduct while OVG maintains its cooperation with the investigation.
Tim Leiweke has been indicted by the U.S. Department of Justice for allegedly orchestrating a conspiracy to rig the bidding process for an arena at a public university in Austin, Texas.
Leiweke faces a violation of Section 1 of the Sherman Act, with a maximum penalty of 10 years in prison and a $1-million US fine.
The DOJ states a rival company didn't submit a bid due to an agreement. OVG was left as the lone qualified bidder after this arrangement.
OVG has stated it co-operated fully with the Antitrust Division's inquiry, resolving the matter without any charges filed against the company.
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