Kraft and Mondelez fined $16m in wheat price manipulation case
The lawsuit was filed by wheat futures and options traders who accused Kraft and Mondelez of illegally manipulating the grain’s price at their expense
Bengaluru — The US Commodity Futures Trading Commission (CFTC) said on Thursday that Kraft Heinz and Mondelez International will pay $16m in penalty regarding a wheat manipulation case that dates back to 2015.
The CFTC said Kraft and Mondelez came up with a strategy to purchase and stand for delivery on more than 3,000 futures contracts, priced at about $90m, to send the market a false signal that the companies had demand for wheat...
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