Skip to main content

Cargill claims to be victim in fraud scheme

Minnetonka-based Cargill Inc., one of the world's largest commodities traders, claims in a new lawsuit that it was duped in a business fraud that involves the sale of fake renewable energy credits, the Star Tribune reports. The company says it arranged to buy 1.2 million biodiesel credits from a New York broker in 2010, and learned later the credits were invalid.
  • Author:
  • Updated:
    Original:

Minnetonka-based Cargill Inc., one of the world's largest commodities traders, claims in a new lawsuit that it was duped in a business fraud that involves the sale of fake renewable energy credits, the Star Tribune reports. The company says it arranged to buy 1.2 million biodiesel credits from a New York broker in 2010, and learned later the credits were invalid.

Next Up

Karl-Anthony Towns

Timberwolves survive Knicks' second-half barrage to get back to .500

Karl-Anthony Towns' lay-in helped Minnesota get a win in The Garden.

FLickr - crime scene tape do not crozz

Charges: MN teen shot mom after dispute over meth

The girl's mother said there had been a dispute over methamphetamine.

bad roads, blizzard

No travel advised: High winds, whiteout conditions in NW MN

Zero visibility in parts of greater Minnesota Tuesday night.

holy angels high school j nelson

Update: Holy Angels evacuated over bomb threat, school says

Someone left a voicemail early Tuesday suggesting there was an explosive device.

radio station, microphone

Convicted stalker charged with harassment of another DJ at The Current

He pleaded guilty to similar charges involving the DJ's colleague back in 2015.

Mall of America exterior Tyler Vigen Wikimedia COmmons

10 new shops, food stops at Mall of America

Donuts, K-fashion, model cars — the new tenants cover a lot of bases.

Gophers basketball

Gophers fall below roster minimum, postpone Penn State game

It is "due to internal COVID-19 protocols within the Golden Gopher program."

Raheem Morris

Report: Vikings request interview with Rams' Raheem Morris

Morris was once the youngest head coach in the NFL at 33 years old.

train crossing S Boardman Ave, New York Mills, Minnesota - August 2013 crop GSV

Sheriff: Drunk driver crashed trying to 'beat the train'

The BNSF train slammed into the side of the driver's car.

ambulance

Man run over after parking dispute leads to road rage crash

The two groups fought about parking prior to the crash.

hwy 41 engler boulevard crash crop

Deadly crash shuts down small stretch of Chaska highway for hours

A driver crossed over the center median and hit another vehicle.

covid test 6

You can now order 4 free at-home COVID tests from the government

Tests will ship for free within 7-12 days, according to the White House.

Related

Cargill recalls 30,000 pounds of ground beef

Minnetonka-based Cargill is voluntarily recalling ground beef due to salmonella concerns. The 85 percent lean ground beef was produced at Cargill's plant in Wyalusing, Pa., on May 25, and repackaged for sale to consumers of a Maine-based grocery chain, the Associated Press says. The chain sold the ground beef in Massachusetts, Maine, New Hampshire, New York and Vermont.

Cargill to boost biodiesel production in Missouri

Cargill Inc. plans to increase the production capacity of its joint-venture Paseo Biofuels LLC biodiesel plant in Kansas City by 40 percent, Reuters reports. The Minnetonka-based agriculture giant expects the expansion to be complete by March 2013.

Cargill to cut 2,000 workers

The Wayzata-based agribusiness employs 6,600 employees in Minnesota, and although the cuts are not focused in any one area, Cargill won't say how many Minnesota workers will be laid off.

Cargill buys renewable fluid business

Wayzata-based Cargill says it has acquired the global Envirotemp FR3 fluid business and brand from Milwaukee-based Cooper Power Systems.

Cargill to invest nearly $400 million in Africa

Bloomberg News is reporting Cargill Inc. plans to develop industrial palm-oil plantations and processing facilities in Ivory Coast within five years. The Minnetonka-based agribusiness giant may invest $380 million in the project. Cargill is one of the biggest cocoa exporters in the West African nation, the world’s top grower of the crop.

Cargill to open $250 million chicken broiler in China

Wayzata-based Cargill Inc. says the company plans to operate one the largest poultry broiler production facilities in China next year. The facility currently under construction will raise 65 million birds a year. Cargill invested $250 million into the plant. China's poultry industry is rapidly expanding with annual growth at 5 to 6 percent.

Cargill reportedly eyeing Canadian agribusiness giant

Viterra is a grain marketing and distribution firm powerful in North America, China, and Australia. Its stock price soared last week after it revealed it's getting buyout offers. The Wall Street Journal says Cargill is in the running against a Swiss firm, Glencore.

Cargill CFO steps down, cites 'personal reasons'

Minnesota-based Cargill's Chief Finanical Officer Sergio Rial plans to leave the company at the end of November after just 16 months in the position, the company said Friday. He plans to return to his native Brazil for "personal reasons." Sudden exits of top executives at the company are unusual, the Star Tribune reports. Rial, 52