Once the cattle were slaughtered and sold at market price, Easterday Ranches would repay the costs advanced – plus interest and certain other costs – retaining the difference as profit. Per the agreements, Tyson and Company 1 would advance Easterday Ranches the costs of buying and raising the cattle. (Tyson) and another company (Company 1) out of more than $244 million by charging the victim companies for the purported costs of purchasing and feeding hundreds of thousands of cattle that did not exist.Īccording to court documents, Cody Allen Easterday, 51, 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 behalf of Tyson and Company 1. A cattle rancher in Washington was sentenced yesterday to 11 years in prison for defrauding Tyson Foods Inc.
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