<p><span>The Commodity Futures Trading Commission announced today that Chief Judge Stanley A. Bastian of the U.S. District Court for the Eastern District of Washington issued an order granting a permanent injunction against Easterday Ranches, Inc., and requiring it to pay a combined $263 million in restitution and civil monetary penalty in connection with a phantom cattle fraud scheme.</span></p>
<p><strong>Overview </strong></p>
<p><span>Easterday Ranches, Inc. (a cattle feedyard) made false statements to, and violated position limits established by, a futures exchange regulated by the Commission. Accordingly, the Commission appropriately brought (and today settles) charges against Easterday Ranches of violating provisions of the Commodity Exchange Act (“CEA”) that specifically address these types of misconduct. </span></p>
BILLINGS, Mont. – R-CALF USA, the largest cattle producer-only trade association representing the U.S. cattle industry, is reportedly the only national cattle group that has not yet endorsed the ‘‘Cattle Contract Library Act of 2021”…
R-CALF USA withholds endorsement of Contract Library Bill drgnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from drgnews.com Daily Mail and Mail on Sunday newspapers.
LINCOLN, Neb. (DTN) A hearing to determine Rabo AgriFinance LLC’s ability to block the sale of farm and ranch assets of southeastern Washington’s Easterday Ranches Inc., was delayed until the end of July.
Easterday asked a federal bankruptcy court to issue a temporary restraining order and injunction against the creditor. Rabobank is trying to collect nearly $1.1 million owed it by Easterday, as the rancher who filed for Chapter 11 bankruptcy protection looks to sell assets.
A hearing on the motion originally was scheduled for July 2, but the court granted a continuance to July 21. According to court documents, Farmland Reserve was awarded the winning bid of $209 million for the Easterday assets.