What A Tobacco Racketeering Case, Possible ATF Involvement Means For Tobacco Stocks

From: Benzinga

Elizabeth Balboa, Benzinga Staff Writer

The Bureau of Alcohol, Tobacco, Firearms and Explosives has been dragged into a hushed racketeering lawsuit involving fake cigarettes, a secret bank account and alleged sting operations.

According to the U.S. Tobacco Cooperative Inc., one former employee and contractor cheated nearly 700 coop farmers out of about $24 million. The two defendants claim to have secretly worked as ATF informants during their illicit transactions.

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