About Food Industry

BNET Food provides daily industry trends and news coverage with insights for managers and executives, focusing on the major companies in the food and beverage sector, from manufacturers to retailers. In addition to detailed company profiles, we bring you industry analysis on new alliances and partnerships, food products, mergers and acquisitions, contamination events, health risks, investments, and a host of other important business issues.

Agriprocessors Verdict, Pending Immigration Charges, and a Bizarre Response

By Katherine Glover | Nov 16, 2009

Though a jury found Agriprocessors former vice president Sholom Rubashkin guilty on 86 out of 91 financial fraud-related charges, Rubashkin says he’s innocent.

And his friend Aaron Goldsmith says Rubashkin is innocent, too. Well, sort of. “Nobody’s proven he had money on the side or did things for his personal gain; he was trying to keep his company going. While misguided, it’s the not same as defrauding somebody for personal gain,” Goldsmith said.

I see. So he broke the law, maybe, but he had good reasons. So that’s all right then. Huh?

Agriprocessors’ kosher meat plant in Postville, Iowa, got national attention in May 2008 when an immigration raid turned up nearly 400 undocumented immigrants working there. But Thursday’s verdict had nothing to do with immigration. This trial was about financial crimes — for example, Rubashkin was found guilty of falsifying business records in order to persuade his lenders to increase his credit line.

In future trials, Rubashkin will face 72 federal immigration-related charges, plus some state charges involving child labor laws. Rubashkin will likely receive the highest penalty of anyone at Agriprocessors because, unlike several of his colleagues, he refused to plea bargain.

Katherine Glover is a Minneapolis-based print, radio and online journalist. She's written for Salon.com, Sierra Magazine and many others, and she does a weekly blog on immigration issues for MinnPost.

BNET User Analysis

Web Buzz:
  • Bear Stearns ex-managers cleared

    BBC - 10 days 4 hours 12 minutes ago

    Two former Bear Stearns hedge fund managers charged with fraud have been found not guilty by a New York jury. Ralph Cioffi and Matthew Tannin were cleared of charges including securities fraud and conspiracy charges relating to the collapse of two hedge funds. Prosecutors had argued the two managers lied to clients to protect bonuses when their...

  • Former McKesson Chair Charles McCall Found Guilty of Securities Fraud

    HIStalk - 1 day 4 hours 9 minutes ago

    A San Francisco jury has found former McKesson chairman Charles McCall guilty of five of six counts of securities fraud. He was acquitted on a single charge of falsifying records. Federal prosecutors said the former chairman, president, and CEO of HBO & Company covered up that company’s fraudulent activities, allowing it to be acquired by...

  • U.S. jury finds Ex-E&Y partner guilty of fraud

    Reuters - 189 days 4 hours 5 minutes ago

    NEW YORK (Reuters) - A former partner at accounting firm Ernst & Young LLP was guilty of securities fraud for an insider trading scheme but not guilty of conspiracy charges, a U.S. jury ruled on Friday. James Gansman, who worked at E&Y in New York until October 2007, was indicted in May 2008 on charges of tipping off a friend about pending deals...

  • Ex-Ernst Partner Guilty of Insider Trading

    New York Times - 186 days 14 hours 24 minutes ago

    A former partner at the accounting firm Ernst & Young was found guilty on Friday of securities fraud for an insider trading scheme but not guilty of conspiracy charges

  • Former Executive at Monster Guilty

    New York Times - 192 days 47 minutes ago

    A jury has found James J. Treacy, the former president and chief operating officer of Monster Worldwide, guilty of securities fraud and conspiracy in a stock options backdating scheme.
     

    BNET TalkbackShare your ideas and expertise on this topic

    Please add your comment:

    1. You are currently: a Guest |
    2.  

    Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
Click Here
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement
Click Here