Brazilian prosecutors charge executives

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By AP

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Updated: Tue, 25 Mar 2014 04:15:37 EST

SAO PAULO (AP) — Brazilian prosecutors have charged 30 executives from 12 companies with forming a cartel to raise prices for the construction and upkeep of subway and train systems in Sao Paulo.

The press office of the Sao Paulo State Prosecutor's Office says that executives from companies including Germany's Siemens, CAF of Spain, Mitsui of Japan, Bombardier of Canada, Alstom of France and Hyundai Rotem are among those being charged.

Tuesday's statement says the companies were involved in price fixing, and those that won bids then contracted the losing companies to provide services.

Five contacts signed between 1998 and 2008 are being investigated.

Judges must decide if they will accept the charges and try the executives.

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