ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Wednesday, July 17, 1996 TAG: 9607170030
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
DATELINE: WASHINGTON
SOURCE: Associated Press
Federal prosecutors plan to seek indictments of two executives of Archer Daniels Midland Co., on price-fixing charges, according to published reports.
The indictments, alleging price-fixing in the global market of the livestock feed additive lysine, may come as early as September, The Washington Post and The Wall Street Journal reported in today'sTuesday's editions, quoting unidentified sources close to the investigation.
The government plans to seek indictments against ADM Vice Chairman Michael D. Andreas, son of its chairman, Dwayne O. Andreas, and Terrance S. Wilson, head of the company's corn processing division, the papers said.
In addition, the Post said the government also plans to indict Mark Whitacre, the former head of ADM's bioproducts division, who was an informant for the FBI for 21/2 years. Whitacre said Tuesday he has not been told he would be indicted.
The Journal, quoting lawyers familiar with the case, said prosecutors had told the two current executives earlier that they were likely to be indicted and more recently made clear that indictments will be sought in September.
A grand jury in Chicago is handling the lysine investigation, and grand juries focusing on price-fixing of high-fructose corn syrup and citric acid are sitting in Atlanta and San Francisco.
Richard Reising, ADM's vice president and general counsel, did not return a telephone call seeking comment Tuesday.
The Post said attorneys for the Decatur, Ill.-based company, company officials, and attorneys for the three executives named in its report were all unavailable for comment.
ADM has been the subject of an antitrust investigation for more than a year.
LENGTH: Short : 46 lines ILLUSTRATION: PHOTO: Whitacre (headshot) color.by CNB