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US cattle feed operator pleads guilty to defrauding Tyson Foods, second company of $244 million

( April 1, 2021, 20:58 GMT | Official Statement) -- MLex Summary: Cody Easterday of Washington state pleaded guilty to defrauding Tyson Foods and another company of $244 million by charging them for the costs of buying and feeding cattle that didn’t exist, the US Federal Deposit Insurance Corporation inspector general said. He used the money in part to cover $200 million in commodity futures trading losses, and also defrauded CME Group in connection with his trading. Easterday pleaded guilty to one count of wire fraud and agreed to pay $244 million in restitution. He faces a maximum sentence of 20 years in prison.Statement follows in full. ...

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