ADM EXECUTIVES SENTENCED TO PRISON TERMS IN PRICE-FIXING SCHEME

Jul 19th, 1999 • Posted in: News

CHICAGO
Three executives from agribusiness giant Archer Daniels Midland (ADM) were sentenced to prison last week for their roles in fixing the global prices of lysine, a feed additive that boosts livestock growth.

U.S. district judge Blanche Manning sentenced ADM vice chairman Michael Andreas and former executive Terrance Wilson each to two years in prison and a $350,000 fine.

Former ADM executive Mark Whitacre, already serving nine years for embezzlement, was sentenced to 2 1/2 years in prison, the Reuters news agency reported.

The ADM trio was convicted of colluding with Asian competitors to divvy up the lysine market between 1992 and 1995, allocating market share and fixing prices, Reuters reported.

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One Response »

1. Ethics Newsline® » Commentary » The Trouble with Ethics Awards on October 21st, 2009 at 12:45 pm:

   [...] of Mark Whitacre, a top corporate executive at agribusiness giant Archer Daniels Midland. Was he a whistle-blower and a reformer — or a mole and a con man? When lying becomes so subtle, what does it mean to [...]

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