Chinese execs, shipping container companies accused of price fixing during pandemic
The indictment, which was first reported by CBS News, marks the latest in a series of probes by the Justice Dept. related to the COVID-19 pandemic.
Updated on: May 19, 2026 / 4:52 PM EDT / CBS News
Seven Chinese executives and four of the largest shipping container manufacturers were criminally charged in an antitrust case alleging they engaged in illegal price fixing during the pandemic six years ago, federal prosecutors announced on Tuesday.
"We are holding these Chinese bad actors accountable for exploiting the pandemic to fill their own coffers," said Associate Attorney General Stanley Woodward. He said the manufacturers "exploited the crisis and their market power to squeeze the supply chain for profit through coordinated agreements."
As a result, their actions "dramatically raised the prices of shipping containers" in the lead-up to and during the pandemic, Woodward said.
Omeed Assefi, the acting assistant attorney general for the Antitrust Division, said that the indictment was secured in 2025 in the Northern District of California, but remained under seal until one of the defendants — Vick Nam Hing Ma — was apprehended and detained in France in April. His extradition to the U.S. is still pending.