Marfin Investment : USDA Settles a Packers and Stockyards Case Against Jarod Walrod

Release No.: 021-20

WASHINGTON, Jan. 16, 2020 - As part of its commitment to ensuring fair and competitive markets for the livestock, meat and poultry industries, on Dec. 11, 2019, the U.S. Department of Agriculture (USDA) entered into a stipulation agreement with Jarod Walrod (Walrod) for alleged violations of the Packers and Stockyards (P&S) Act. Under the terms of the stipulation agreement, Walrod waived his right to a hearing and paid a civil penalty of $7,000.

An investigation by USDA's Agricultural Marketing Service revealed that Walrod falsified 11 transactions by arbitrarily changing weights and prices to receive an undisclosed mark-up of $6,222 on cattle he bought from February 2017 to May 2017.

The P&S Act requires subject entities to fully and accurately disclose the true nature of the transaction. Falsifying weight and price on invoices is an unfair and deceptive trade practice and a violation of the P&S Act.

The P&S Act authorizes the Secretary of Agriculture to assess civil penalties up to $11,000 per violation against any person after notice and opportunity for hearing on the record. USDA may offer alleged violators the option of waiving their right to a hearing and enter into a stipulation agreement to quickly resolve alleged violations.

The P&S Act is a fair trade practice and payment protection law that promotes fair and competitive marketing environments for the livestock, meat and poultry industries.

For further information about the Packers and Stockyards Act, contact Stuart Frank, Packers and Stockyards Division, at [phone], or by email at [e-mail].

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