It shall be unlawful for any contractors, material dealers, individuals, manufacturers, producers, or corporations, to enter into collusion, private agreement, or secret understanding, to raise the price of construction work or of equipment, supplies or materials for any state highway work. Any contractor, material dealer, manufacturer, producer or their agent or employee, or officer, agent or employee of any corporation, convicted of this offense shall be punishable by a fine of not to exceed five thousand dollars ($5,000.00) or by imprisonment not exceeding twelve months, or by both such fine and imprisonment, in the discretion of the court.