Could It Be A Diamond Ring?
After a two-year Justice Dept. investigation, a federal grand jury in Columbus, Ohio, indicted General Electric, DeBeers Centenary, and two of the companies' employees on Feb. 17 for allegedly fixing the price of industrial diamonds. GE Chairman Jack Welch learned of the planned indictment on Feb. 14, in a meeting with Justice antitrust chief Anne Bingaman. Two days later, former GE executive Edward Russell--whose complaints triggered the federal probe--denied having any direct knowledge about the alleged wrongdoing in a settlement of his separate civil suit charging GE with wrongfully discharging him.
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