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More than 30 years after fraud at Archer Daniels Midland inspired a Matt Damon film, the company was hit with a $40M fine in a price-fixing probe
['Sheryl Estrada']
Fortune | FORTUNE
Archer Daniels Midland Co. (ADM) is back in the headlines for all the wrong reasons.
In the 1990s, the agricultural giant was implicated in a price-fixing conspiracy that became the basis for the book—and later Matt Damon movie—The Informant!.
However, the SEC also announced on Tuesday that Luthar still faces accounting and disclosure fraud charges.
He is being charged with allegedly materially inflating the performance of the nutrition segment which ADM touted to investors as an important driver of the company’s overall growth.
Monish Patolawala has been the EVP and CFO of ADM since August 1, 2024.