EU: Investigators probe alleged distillation wine scam
EU anti-fraud authorities are investigating alleged corruption in the wine alcohol trade. They are looking into whether traders have been manipulating the system under which excess production distillation wine is auctioned off. European wine alcohol is used in the US by companies such as Archer-Daniels-Midland Co. to make ethanol. The EU investigators confirmed to the Wall Street Journal that it was investigating allegations made in the US Congress that ADM colluded with other bidders at European wine auctions.
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