Americans are paying the price for the rotten meat business

THE SPECTATOR

a few large companies monopolize the vast majority of meat processing. Tyson, National Beef, JBS and Cargill, for example, process more than 80 percent of the beef sold in the US, while Tyson, JBS, and Smithfield process 63 percent of the nation’s pork. read more »

Sens. Josh Hawley and Tammy Baldwin recently asked the Federal Trade Commission to investigate the meatpacking industry for potential antitrust violations. In addition to concerns about monopolization, the senators raise another structural problem in the meatpacking industry: foreign ownership of some of the biggest firms. read more »

German company allegedly cons Warren Buffett out of €643m

THE GUARDIAN

A German manufacturing company is being investigated for fraud after allegedly conning the legendary US investor Warren Buffett into paying at least four times over the odds for its business by Photoshopping company orders and invoices.

After an anonymous tip-off by a whistleblower in May the same year, however, the US holding company began to question whether key documents had been doctored to create the impression of a booming business. read more »

CFTC Charges Danish Man in $1.5 Million Forex Fraud Scheme

CFTC

The Commodity Futures Trading Commission today announced the filing of an enforcement action in the U.S. District Court for the Southern District of New York, charging defendant Casper Mikkelsen, a/k/a “Carsten Nielsen,” a/k/a “Brian Thomson,” a/k/a “Thomas Jensen,” a/k/a Casper Muller,” a resident of Denmark, with engaging in a $1.5 million foreign currency (forex) fraud scheme and registration violations. read more »