Word: adm
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Dates: during 1990-1999
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...Chicago hospital. Why would a corporate whistle blower, who for the past 2 1/2 years had carried hidden tape recorders and cooperated with the fbi in an investigation into price fixing at the giant Archer Daniels Midland Co., decide to take his own life? Whitacre was certainly under pressure. ADM lashed out at him after the executive surfaced as an fbi mole in June, accusing him of stealing at least $2.5 million from the company. Was the suicide attempt a sign that he was guilty? Or was it the despairing act of a fast-track executive who had been branded...
Whitacre says he was never a thief. In a letter to the Wall Street Journal just before his attempted suicide, Whitacre indicated that the $2.5 million the company said he took was, in fact, under-the-table payments ADM made routinely to favored employees. Whitacre is reported to have informed the Justice Department about the arrangement when he signed on as an informer. "Dig deep," he wrote the Journal. "It's there! They give it; then use it against you when you are their enemy...
...Wall Street Journal reported that FBI videotapes of secret meetings between executives of agribusiness giant Archer Daniels Midland and global competitors suggest a conspiracy to fix international prices on a popular food additive. The tapes were made possible by ADM executive Mark Whitacre, who was recently identified as a longtime FBI informant...
...Andreas remained feisty throughout the week, privately telling friends that "no one is cowed or bowed" at ADM and publicly pledging the company's cooperation with the FBI. The scrutiny of ADM has prompted a sense of poetic justice in some members of the Chicago Board of Trade, as ADM helped FBI agents launch a 1989 sting that led to several commodities traders being convicted on fraud and racketeering. "There is a lot of snickering because ADM has finally got its ass caught in a sling," said a board member of the Board of Trade. "There is just this whole...
...well-ordered life of small-town philanthropy--he gave $2,000 a year in college scholarships to graduating Moweaqua seniors--to spy on his own company. They were still wondering as Whitacre continued to report to work last week at his second-floor office in ADM headquarters...