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The salad oil scandal, also referred to as the soybean scandal, was an American major corporate scandal in 1963 that caused over $180 million ($1.79 billion today) in losses to corporations including American Express, Bank of America and Bank Leumi, as well as many international trading companies. [1]
Anthony "Tino" De Angelis (November 3, 1915 – September 26, 2009) [3] was a Bayonne, New Jersey, commodities trader who dealt in vegetable oil futures worldwide.. In 1962 De Angelis' company, Allied Crude Vegetable Oil Refining Corporation, bilked 51 banks out of over $180 million ($1.79 billion today) in what became known as the Salad Oil scandal after he failed to corner the soybean oil ...
Commodities trader Tino De Angelis defrauded clients, including the Bank of America into thinking he was trading vegetable oil. He got loans and made money using the oil as collateral. He showed inspectors tankers of water, with a bit of oil on the surface. When the fraud was exposed, the business collapsed. Herstatt Bank: West Germany: 26 June ...
Farmland Industries was the largest agricultural cooperative in North America when it eventually sold all of its assets in 2002–04. During its 74-year history, Farmland served its farmer membership as a diversified, integrated organization, playing a significant role in agricultural markets both domestically and worldwide.
A farmer who defrauded the government of $3.5 million by getting crop insurance in the names of other people has been sentenced to three years and six months in prison.
The alleged fraud resulted in more than $200,000 in loss payments to one farmer and $182,000 to another. ... Two Central Kentucky farmers lied on crop-insurance policies to get payouts, a federal ...
From January 2008 to December 2012, if you bought shares in companies when Edward B. Rust, Jr. joined the board, and sold them when he left, you would have a 23.5 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
Integrated farming (IF), integrated production, or integrated farm management is a whole farm management system which aims to deliver more sustainable agriculture without compromising the quality or quantity of agricultural products. Integrated farming combines modern tools and technologies with traditional practices according to a given site ...