Cattle Rancher loses $200M of Tyson's Money Trading Futures

[Overnight]

Do NOT order food from this place! Sure, they source their meat locally, but really, one can never be sure how "locally".

https://holifieldsausage.com/

 

[Millionaire]

he misspelled Spear, Leeds & Kellogg at 1:34

He verbally says 'Kellag' instead Kellogg at about 30 seconds in as well. I caught that back when i first saw the film about 20 years ago.

I always thought it was deliberate on the part of the film makers, keep some of the names semi fictitious to avoid libelling

 

[newwurldmn]

He verbally says 'Kellag' instead Kellogg at about 30 seconds in as well. I caught that back when i first saw the film about 20 years ago.

I always thought it was deliberate on the part of the film makers, keep some of the names semi fictitious to avoid libelling

good point.

 

[BMK]

The original Bloomberg article says:

Tyson discovered that Easterday’s books -- as well as its own -- were “significantly in error,” Tyson said in a lawsuit targeting the ranch. Specifically, Tyson discovered the 200,000 missing animals.

Hmmm... I wonder where they found the cattle? If they weren't on the ranch, then where were they? How the hell do you hide 200,000 cows??

LMAO

 

[deepfkvalue]

Amazing that he was able to get away with it for so many years. Considering that the cattle were supposed to be owned by Tyson, and they were only being managed by the rancher, how did Tyson not perform at least an annual audit where they send a person to see the cattle? 200,000 fake cattle? A single in person audit would have flagged it much sooner.

 

[guru]

how did Tyson not perform at least an annual audit where they send a person to see the cattle?

They did, but he kept falling asleep every time he counted to 100.

 

[deepfkvalue]

They did, but he kept falling asleep every time he counted to 100.

View attachment 256433

Probably got him drunk on Bourbon the moment he stepped off the plane. Wouldn't be surprised if the inspector was involved too. "I trust you Mr. Rancher, let's go to the bar early"

 

[JSOP]

Funny. Yeah I thought just another bad Mike Tyson investment and that trader was soon to catch a big fist to the face...

Me too. I thought somebody was trying to screw with Mike Tyson too. LOL Ironically I think he would've been more careful if he was really dealing with Mike Tyson...

 

[JSOP]

%%
Amazing track record\ 10 years of losses in corn + cattle.
And further picked a losing lawyer that thinks trading with fraud is'' gambling.''

And considering he is in the cattle business himself.

 

[JSOP]

This sounds like another Greensill. Anyone is doing its job for the due intelligence? No one else to believe. For a commodity buyer, you better send someone to the ranch to look at the cattle you are buying. I'm sure Costco would send some inspectors to the ranches and farms to inspect the crops and cattle....

No Greensill is different. Greensill was in a business to provide a valuable service to a sector of a business that was being ignored by the Big Banks simply because they were not profitable. Greensill's having financial trouble largely due to the covid-19 that has slowed down the businesses of his clients to the point of defaulting on their loans and the insurance companies bailing on him at the time of need (very typical of insurance companies, never there when you need them) but he had a successful business model that was working. Before Covid-19, he was doing very well and there was no fraud. All Greensill needs right now is this guy:

Somebody to just give pledge their funds to tie him over this difficult period, something the insurance companies were supposed to do.

Whereas this Easterday is different. He was engaging in fraud all alone just for him to engage in financial trading that never worked. The guy was losing money EVERY DAY!!! For TEN YEARS!!! And he defrauded companies to feed his "trading business" aka gambling addiction. Hope he gets some therapy for his gambling addiction when he's doing time in jail.