NEWS
Fri Dec 20, 2013 04:56 PM CST

(Dow Jones) -- Archer Daniels Midland Co. has agreed to pay more than $36 million to settle charges under the Foreign Corrupt Practices Act that it failed to prevent bribes by its subsidiaries in Germany and Ukraine, the Securities and Exchange Commission said Friday.

The SEC said the subsidiaries paid more than $21 million to bribe government officials through intermediaries to receive value-added tax refunds. The alleged bribery lasted from 2002 to 2008, and netted about $33 million in illegal profits, according to the commission.

In a parallel action, the Justice Department said the company's subsidiary in Ukraine pleaded guilty ...

Quick View
  • Dr. Dan Talks Agronomy DTN Contributing Agronomist Dan Davidson gives his take on the Six Secrets of Soybean Success pro...
  • Mountain Top Prices North Carolina's mountain cattle producers have always been an independent bunch. But a new allia...
  • Ask The Mechanic Ask the Mechanic answers the question about how VW and German engineering was able to get by with...
  • Senior Partners - 4 Except for family sales, seller financing virtually vanished after the farm crisis of the 1980s w...
  • PNW Ag Hit by Historic Drought In addition to problems with the Northwestern wheat crop, cattle are also being adversely affecte...
  • RFS Deadline Nears With the deadline to file comments on the proposed Renewable Fuel Standard volumes to strike at m...
  • Saving Our Forgotten Harvest About 40% of America's food goes uneaten each year. This nonprofit is working to remedy that prob...
  • Look Beyond Yield Soybean industry increases efforts to promote the importance of oil and protein content to farmer...
  • Ask the Vet Is this fly-control mineral block safe for my whole herd?
Related News Stories
Groups Pan 'GMO Free' Label