By KEN BERNSTEINREICHREICH/THE WASHINGTON TIMES A multinational plastics company made millions of dollars selling the same old plastic bottles that were so widely used that their prices rose, but instead of buying recycled plastic, it built its own, cheaper and recyclable plastic bottles.
It was called regal.
The company has now paid $1 billion in fines and settlements to the U.S. government and regulators for the $1,212 billion fraud that went on from 1997 to 2003.
Regal, which now sells in China and Europe, did not respond to a request for comment from The Associated Press.
It said in a statement that the company’s actions in the past 30 years were driven by “the need to be competitive and to innovate.”
Regal did not pay a penny in fines or settlements, which the company said was a “major achievement” in reducing its environmental footprint.
It also said the fines and settlement helped “reduce its environmental impact.”
The company is a major target of the U