MIL-OSI USA: Federal Court Orders Washington Rancher to Pay $1 Million Penalty for Phantom Cattle Scheme, Position Limit Violations foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.
<p><span>Today, the U.S. District Court for the Eastern District of Washington issued an order granting a permanent injunction to resolve pending litigation against Cody Easterday (Consent Order). Easterday had previously been charged by the Commission for engaging in fraud in connection with the sale of more than 200,000 head of “ghost” cattle—which did not, in fact, exist—to Tyson Fresh Meats, Inc. (Tyson), a beef processor and part of a corporate family that together constitute one of the largest food suppliers in the world, as well as with making false statements to the Chicago Mercantile Exchange (CME) and violating exchange-set position limits.</span><span> As a result of Easterday’s fraud, Tyson paid him and his feedyard, Easterday Ranches, Inc. (Easterday Ranches), more than $233 million to which they were not entitled.</span></p>
<p><span xml:lang="EN" lang="EN">The Commodity Futures Trading Commission today announced it has filed a civil enforcement action </span><span>in the U.S. District Court for the </span><span xml:lang="EN" lang="EN">Northern District of Illinois charging <span>Changpeng Zhao</span> and three entities that operate the Binance platform with numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations. The complaint also charges <span>Samuel Lim</span>, Binance’s former chief compliance officer, with aiding and abetting Binance’s violations.</span></p>