Meat Industry INSIGHTS Newsletter

980958 Jury Finds ADM Executives Guilty of Price-Fixing

September 17, 1998

Chicago - A federal jury found three Archer Daniels Midland Co. executives guilty of fixing prices for the livestock feed additive lysine, ending a six- year investigation that may land the son of the agribusiness firm's chairman in jail.

ADM Vice-Chairman Michael Andreas, son of the global grain and food processor's chairman Dwayne Andreas and widely believed to be the prime candidate to succeed his father, and former ADM executives Terrance Wilson and Mark Whitacre, each face up to three years in prison and $350,000 in fines.

The fines could skyrocket into the millions of dollars under a sentencing guideline that says the three can be asked to pay double actual losses suffered by consumers, which the U.S. Justice Department estimated at $45 million.

Sentencing was set for Jan. 7, 1999, by U.S. District Court for the Northern District of Illinois Judge Blanche Manning. Manning praised attorneys on both sides for their professionalism, but made no specific comments about the case.

U.S. Attorney Scott Lassar, who tried the case himself, said he expects the three to be sentenced to the maximum three years in prison, saying federal sentencing guidelines offer little flexibility.

This Article Compliments of...

Iotron Technology Inc.

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