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US cattle feed operator gets 11 years in prison for $244 million ghost cattle fraud scheme

( October 5, 2022, 14:35 GMT | Official Statement) -- MLex Summary: Cody Easterday has been sentenced to 11 years in prison for 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 Department of Justice said. He used the money partly to cover $200 million in commodity futures trading losses and defrauded CME Group in connection with his trading. Statement follows below:...

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