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Former Archer Daniels Midland Co. executive Reinhard Richter pleaded guilty to fraud charges, the second former official to plead guilty this month in a 5-year-old federal investigation. Richter, 46, entered the plea before Judge Harold Baker of U.S. District court in Urbana and will be sentenced Jan. 30. On Oct. 10, Mark E. Whitacre, 40, former head of the agribusiness giant’s BioProducts Division, pleaded guilty in Baker’s court to swindling $9 million from ADM. Richter, now living in Mexico, was president of ADM Mexico from 1991 to 1995. He admitted to conspiring with Whitacre to defraud the company and to evade U.S. income taxes through a phony invoicing scheme, prosecutors said.
