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Washington rancher pleads guilty to stealing $244M in 'ghost cattle' scam

Washington rancher pleads guilty to stealing $244M in ‘ghost cattle’ scam
By Kristin M. Kraemer, Tri-City Herald
Published: March 31, 2021, 7:15pm
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PASCO – The president of one of the largest agricultural operations in Washington state has admitted concocting a scheme to defraud Tyson Foods and another company out of more than $244 million.
Cody A. Easterday, 49, pleaded guilty Wednesday in U.S. District Court in a case that federal prosecutors are calling a “ghost-cattle scam.”
Easterday, who’s also chief executive officer of Easterday Ranches Inc., charged the two companies under various agreements for the costs of buying and feeding 200,000 cattle, when those cattle did not actually exist, according to a U.S. Department of Justice news release. ....

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Easterday pleads guilty, will pay $244M over nonexistent cattle

Washington rancher Easterday pleads guilty, agrees to pay $244M over nonexistent cattle
Cody Easterday’s scheme to defraud two companies, including Tyson Fresh Meats, began in 2016 and was created to cover more than $200 million in trading losses.
Credit: Shannon Dininny
Author: Charles H. Featherstone (Columbia Basin Herald)
Published: 10:28 AM PDT April 1, 2021
Updated: 10:28 AM PDT April 1, 2021
SPOKANE, Wash. Cody Easterday pleaded guilty in federal court late Wednesday to defrauding two companies, including Tyson Foods subsidiary Tyson Fresh Meats, of $244 million by charging the companies for the care and feeding of cattle that did not exist, as reported by KREM 2 News partner the Columbia Basin Herald. ....

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Easterday Dairy moving forward despite company's trouble

BOARDMAN â Plans to revive Oregonâs second-largest dairy remain unchanged, despite the new owners â a prominent farm family based in Southeast Washington â facing allegations of fraud by Tyson Foods.
Easterday Farms purchased the dairy, formerly Lost Valley Farm, in 2019. The family registered a new business in Oregon, called Easterday Dairy LLC, which is now seeking state approval to reopen the dairy in rural Morrow County with up to 28,300 total cattle.
But Oregon regulators say they are proceeding with caution and watching closely amid an unfolding scandal involving Easterday Ranches, the livestock arm of the familyâs multi-pronged agricultural operation.
Easterday Ranches supplies cattle for a beef plant run by Tyson Fresh Meats near Pasco, Washington. In January, Tyson sued Easterday Ranches for $225 million, accusing the ranch of faking invoices and charging the company for more than 200,000 cattle that, in fact, did not exist. ....

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Easterday Ranches files bankruptcy after Tyson sues over non-existent cattle

For Tri-State Livestock News
At the end of January, Tyson Fresh Meats filed a lawsuit against one of the largest farming and ranching families in Washington, Easterday Ranches, in an effort to recover losses from fictitious fed cattle sales and feed costs. Additionally, Tyson was hoping to recover 54,000 head of cattle still standing in an Easterday feedlot north of Pasco, Wash. The lawsuit was filed in Franklin County Superior Court in Pasco.
On Feb. 1, days after Tyson sued Easterday Ranches, the ranching operation filed for chapter 11 bankruptcy in federal court. Official Form 204 in Easterday Ranches’ bankruptcy filings lists 20 of their largest unsecured claims. The top unsecured claim comes from Tyson Fresh Meats with at least $225 million. The second largest unsecured claim comes from Segale Properties at $8,647,408.57. All 20 unsecured claims add up to $236,671,645. ....

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Easterday-Tyson Saga Shows: Counting 200K Cattle Isn't Easy, Especially When They Might Not Exist

Courtesy of Franklin County, Washington
Just how do you miss 200,000 phantom cattle over several years? That’s what some people in the Columbia Basin cattle-feeding industry are wondering in an ongoing saga between Tyson Fresh Meats and Easterday Ranches.
“It’s hard to believe,” says Mike DeTray, who runs a 4,000-head operation outside of George, Wash.
An accurate count of cattle is essential to cracking the case of Easterday Ranches and Easterday Farms two arms of the large Easterday family empire, which Tyson Fresh Meats has accused of inventing and feeding 200,000 cattle on paper. After Tyson filed suit seeking $225 million, Easterday filed for federal bankruptcy. ....

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