Mondelēz International and Kraft Heinz have reached a settlement with the US Commodity Futures Trading Commission (CFTC) that was approved by a federal judge to pay a $16 million fine to resolve grain futures manipulation case.
The CFTC complaint, filed in 2015, charges that Mondelēz and Kraft Foods drove down grain prices by buying a six months supply of futures contracts for grain that they never had any intention of actually buying.
This manipulation ended up earning the two companies $5.4 million in illicit profits, according to the CFTC. The fine represents about three times that amount.
Aitan Goelman, the CFTC’s director of enforcement, emphasized that a market participant who is not happy with cash prices available to it may not resort to manipulative trading strategies in an attempt to artificially lower that price.


Jio IPO Filing Nears as Reliance Targets $4 Billion Market Debut
DOJ Opens Criminal Investigation Into E. Jean Carroll Over Alleged Perjury
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness
DOJ Sues Virginia Over Law Enforcement Mask Ban
Trump Administration Defends Anthropic AI Restrictions in Ongoing Federal Lawsuit
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business
Apple Signals Product Price Hikes Amid Rising Memory Chip Costs
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals
US Appeals Court Keeps Trump’s 10% Global Tariff in Effect During Ongoing Legal Battle
South Korea Ex-President Yoon Suk Yeol Sentenced to 30 Years Over Martial Law Plot
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand
Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 



