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CFTC charges Washington state rancher and feedyard in $233 million scheme The Commodity Futures Trading Commission filed a civil enforcement action in the U.S. District Court in eastern Washington state. The action charges Easterday Ranches, Incorporated, a Pasco, Washington-based cattle feedyard, and Cody Easterday, the co-owner and former president of Easterday Ranches, for engaging in cattle fraud in connection with the sale of more than 200,000 non-existent head of cattle to a beef processor. Easterday is also charged with making false statements to an exchange and violating exchange-set...

By Jason Taylor Apr 5, 2021 WASHINGTON, DC - A man from Washington state faces up to 20 years in prison after admitting to swindling Tyson Foods and another company out of $244 million. Court documents show Cody Easterday charged the companies for buying and feeding hundreds of thousands of cattle that did not exist. The scheme lasted for four years between 2016 and late last year. Tyson employs thousands of people at its Iowa meatpacking plants, which have experienced COVID-19 outbreaks in the last year. Easterday pleaded guilty in federal court to one count of wire fraud and agreed to rep...

A man from Washington state faces up to 20 years in prison after admitting to swindling Tyson Foods and another company out of $244 million.

Details Written by DOJ Spokane, Washington - A Washington man pleaded guilty Wednesday to defrauding Tyson Foods Inc. (Tyson) and another company (Company 1) out of more than $244 million by charging them under various agreements for the purported costs of purchasing and feeding hundreds of thousands of cattle that did not actually exist. According to court documents, Cody Allen Easterday, 49, of Mesa, used his company, Easterday Ranches Inc., to enter into a series of agreements with Tyson and Company 1 under which Easterday Ranches agreed to purchase and feed cattle on...

SHARING OPTIONS: The defence contended that the rancher started trading on the commodities market as a hedge against losses inherent in the cycle of agriculture markets and became addicted. A Washington state rancher has pleaded guilty to wire fraud and faces up to 20 years in prison for a scam involving the buying and feeding of hundreds of thousands of cattle that didn’t exist. The US Commodity Futures Trading Commission (CFTC) filed a civil enforcement action on Wednesday, charging Easterday Ranches Inc, and co-owner Cody Easterday, in connection wi...