RICHLAND, WASH. — Cody Easterday, a former Washington rancher and alleged cattle ranch scammer, will be banned from commodity trading and incur a civil penalty of $1 million, according to a recent consent agreement between Easterday and the Commodity Futures Trading Commission (CFTC).

The CFTC filed a lawsuit against Easterday on March 31, 2021, accusing the rancher of violating the Commodity Exchange Act.

With the consent agreement, a permanent injunction was ordered that would bar Easterday from any commodity trading, whether directly or indirectly.

“Defendant’s violations of the act and regulations merit an award of restitution,” the document said. “However, the court recognizes that in a related criminal action, the court ordered that defendant pay restitution in the amount of $244,031,132 in connection with the same conduct at issue in this action. Accordingly, restitution is not ordered in this action.”

The civil monetary penalty of $1 million will be paid within 30 days of the entry of the consent order, which was filed May 26.

Easterday’s business, Easterday Ranches, is not subject to the injunction but considered a separate, outside entity.

Easterday Ranches, based in Pasco, Wash., was sued by Tyson Foods Inc. in 2021 for a ghost cattle scam. The owner, Cody Easterday, charged the processor $244 million over a 10-year business partnership for feeding cattle that did not exist.

Easterday was sentenced to 11 years in prison and owed Tyson $177 million in restitution after the parties agreed to reduce the amount by $67 million.

After Tyson’s lawsuit was filed, Easterday Ranches filed for Chapter 11 bankruptcy, which revealed 20 large outstanding debts.