Mark Whitacre

Mark Whitacre

Mark Whitacre
Born	Birth date -1st March 1966 Morrow County, Ohio, United States
Occupation	Former executive
Known for	Whistleblower in the Archer Daniels Midland price-fixing scandal

Mark Edward Whitacre (born May 1, 1957) is a former executive who gained prominence as a whistleblower in the Archer Daniels Midland (ADM) price-fixing scandal. He played a crucial role in exposing the illegal activities of ADM, one of the largest agricultural processing companies in the world.

Early Life and Education

Whitacre was born on May 1, 1957, in Morrow County, Ohio, United States. He grew up in a small farming community and developed an interest in business and agriculture from a young age. Whitacre attended Ohio State University, where he earned a Bachelor of Science degree in biochemistry. He later obtained a Ph.D. in nutritional biochemistry from Cornell University.

Career

After completing his education, Whitacre joined Archer Daniels Midland (ADM) in 1989. He quickly rose through the ranks and became the president of the BioProducts Division. During his time at ADM, Whitacre discovered a price-fixing scheme within the company, where executives were colluding to fix the prices of lysine, an essential amino acid used in animal feed.

Realizing the gravity of the situation, Whitacre decided to blow the whistle on the illegal activities taking place at ADM. He approached the Federal Bureau of Investigation (FBI) and agreed to cooperate with them as an undercover informant. Over the course of three years, Whitacre secretly recorded hundreds of hours of conversations with his colleagues, providing crucial evidence for the FBI's investigation.

Archer Daniels Midland Price-Fixing Scandal

The Archer Daniels Midland price-fixing scandal was one of the largest and most high-profile cases of corporate corruption in the 1990s. The scandal involved several top executives at ADM, including Whitacre's superiors, engaging in illegal price-fixing activities. The executives were manipulating the prices of lysine and other agricultural products to maximize profits at the expense of consumers.

Whitacre's cooperation with the FBI led to the arrest and conviction of several key individuals involved in the price-fixing scheme. His undercover work provided valuable evidence that helped the government build a strong case against ADM and its executives. As a result, ADM was fined $100 million, and several executives, including Whitacre himself, were sentenced to prison.

Aftermath and Legacy

Following his cooperation with the FBI, Whitacre faced legal consequences for his own involvement in the price-fixing scheme. He served as a key witness in the trials of his former colleagues and received a reduced sentence for his cooperation. After serving his prison term, Whitacre became a motivational speaker, sharing his experiences and lessons learned from the ADM scandal.

Whitacre's story has been the subject of books, documentaries, and a major motion picture titled "The Informant!" starring Matt Damon. His actions as a whistleblower have had a lasting impact on corporate governance and the fight against corporate corruption.