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Probe rattles ADM
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July 18, 1996: 11:47 a.m. ET
Government reportedly expands price-fixing investigation overseas
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NEW YORK (CNNfn) -- The U.S. government's investigation into alleged price-fixing at Archer Daniels Midland Co. has widened into one of the biggest international inquiries of its kind in history, a published report said Thursday.
The New York Times reported that indictments could come by September, with the government rattling one of the most influential corporations in America and possibly derailing Chairman Dwayne O. Andreas' efforts to make son Michael Andreas his successor.
The newspaper said federal investigators and prosecutors have identified targets in the U.S., Britain, France and Japan. The inquiry involves several executives at different companies believed to be involved with the scheme to corner the world market for such commodities as high-fructose corn syrup, critic acid and the feed additive lysine.
One Japanese executive has already agreed to exchange information in exchange for imunity from prosecution, the newspaper said. Other international executives are believed to be negotiating their own immunity deals.
ADM officials did not return phone inquiries from the newspaper.
ADM and the U.S. subsidiaries of Japanese firms Ajinomoto Co. and Kyowa Hakko Kogyo Ltd. recently settled a class-action lawsuit that charged price-fixing. A federal judge in Chicago has scheduled a hearing on the $45 million settlement for Friday. 
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