A former CHS employee manipulated the valuation and quantity of its rail freight rates. As a result, the cooperative overstated its pre-tax income by $100 million to $190 million from September 2014 to May 2018. In a letter to CHS farmer-owners, CEO Jay Debertin said there was no monetary loss to CHS, but the co-op will face additional costs related to this situation. CHS will file corrected statements for the past four years.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.