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Archer Daniels Midland To Pay $54M Over Ukrainian Bribes
By Dan Prochilo
Law360, New York (December 20, 2013, 7:07 PM ET) -- Archer Daniels Midland Co. and one of its European units have agreed to pay $54.2 million to settle U.S. authorities’ allegations that two ADM subsidiaries gave Ukrainian government officials $22 million in bribes in exchange for tax refunds, according to filings in Illinois federal court Friday.
ADM consented to pay $36.4 million to settle a suit brought by the U.S. Securities and Exchange Commission and one of its two accused subsidiaries, Alfred C. Toepfer International Ukraine Ltd., was fined $17.8 million after pleading guilty to a...