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Mars Fraud Case Exposes Risks In Commodity And Export Credit Programmes
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Mars Fraud Case Exposes Risks In Commodity And Export Credit Programmes
January 2026 A former senior risk manager at Mars has been sentenced to more than five years in prison after defrauding the global confectionery group of over $28 million through a long-running scheme that exploited agricultural export credits, internal controls and dividend payments. Paul R Steed, 59, of Stamford, Connecticut, was sentenced to 63 months in federal prison after pleading guilty to wire fraud and tax offences linked to his rol…
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