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Archive for Saturday, September 23, 2000

Former ADM execs get more jail time

September 23, 2000

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— Two former Archer Daniels Midland Co. executives, already behind bars for conspiring to fix the lucrative global market in a livestock feed additive, were resentenced Friday to more prison time.

U.S. District Judge Blanche Manning stiffened the two-year sentence of former ADM Vice Chairman Michael Andreas to three years and the two-year term of former corn processing chief Terrance Wilson to two years, nine months.

Manning acted under an order from the 7th U.S. Circuit Court of Appeals, which ruled the sentences were too light.

Andreas and Wilson were convicted in September 1998, along with biochemist and business executive Mark Whitacre, of conspiring with Japanese and Korean competitors to fix the huge world market in lysine, a feed additive designed to promote growth in hogs and poultry. They worked out production and sales limits.

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