The former chief executive of a multi-billion dollar waste management company faces 10 years in prison for colluding with his competitor to fix and raise prices for bins and waste treatment in Sydney.
Daniel Tartak, the former chief executive and CEO of Bingo Industries, pleaded guilty to two charges of aiding and abetting in federal court on Wednesday.
The 37-year-old was charged in August following an investigation by the consumer watchdog, which alleged that in mid-2019 the company agreed with rival Aussie Skips Bin Services and Aussie Skips Recycling, to raise prices for the provision of dumpster bins and construction and demolition waste disposal services in Sydney.
A sentencing hearing will be held in March next year, where Tartak will face 10 years in prison, a fine of up to $440,000, or both.
“Collaborating with your competitors to raise prices at the expense of your customers is serious cartel conduct. Taking appropriate action against companies and individuals allegedly involved is an important part of our job,” said Australian Competition and Consumer Commission (ACCC) Chair Gina Cass-Gottlieb.
Bingo Industries, a former ASX-listed company acquired by Macquarie Infrastructure and Real Assets in 2020 for $2.3 billion, has also been charged following the ACCC investigation. Bingo Industries pleaded guilty in August and now faces a maximum penalty of $10 million, three times the amount the company earned from engaging in the illegal activity, or 10% of the company’s annual revenue. business – whichever is greater.
Tartak and the extended Tartak family remain a minority stakeholder in Bingo Industries.
Macquarie Infrastructure and Real Assets and Bingo Industries declined to comment. Bingo Industries said in August that it regretted the matter occurred and that it had cooperated with the ACCC and the Commonwealth’s Director of Public Prosecutions throughout its investigation.
Bingo Industries was acquired by Tartak’s father, Tony Tartak, in 2005 for less than $1 million. The company then provided landfill, waste disposal and dumpster services on the east coast of Australia.