P.M. BRIEFING : U.S. Halts Marc Rich’s Subsidy
The government, acting under pressure from Capitol Hill, has suspended from its export subsidy program a grain exporting company partly owned by fugitive Marc Rich, officials said today.
Rich, who left the United States while facing charges of racketeering, wire fraud and tax evasion, now lives in Switzerland.
Agriculture Department officials said they have begun a process that may lead to a permanent ban on participation in the Export Enhancement Program by Richco Grain Ltd. Rich and an associate, Pincus Green, own more than half of the stock in Richco Grain.
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