GIPSA currently estimates that Eastern owes more than $130 million to 743 sellers in 30 states.
USDA Grain Inspection, Packers and Stockyards Administration (GIPSA) recently filed an administrative complaint against Eastern Livestock Company, LLC, and Tommy P. Gibson of New Albany, IN.
The company is being charged with:
- failure to pay for livestock purchases;
- failure to pay timely for livestock purchases; and
- failure to maintain an adequate bond.
"We take very seriously our responsibility to ensure that producers receive all protections afforded them by law and we will be working closely with the Department of Justice and law enforcement officials in the weeks and months ahead, " says John Ferrell, Deputy Under Secretary for Marketing and Regulatory Programs.
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