Five individuals tied to Fort Worth-based Agridime LLC have been federally indicted for their alleged roles in a $220 million nationwide fraud scheme involving cattle purchase contracts, according to the U.S. Attorney’s Office for the Northern District of Texas.
U.S. Attorney Ryan Raybould announced that a federal grand jury in Fort Worth, TX, returned the indictment on Feb. 11, charging the defendants with multiple counts of wire fraud, conspiracy to commit wire fraud and money laundering.
“Thousands of unwitting investors, ranchers, and others in the cattle industry nationwide were drawn in and victimized by the defendants’ multi-million dollar scheme alleged in this indictment,” Raybould said. “My office, in concert with our law enforcement partners, will hold these defendants accountable and pursue justice on behalf of the victims.”
Those indicted include:
• Jed Wood, of Fort Worth, TX, charged with three counts of wire fraud, one count of conspiracy to commit wire fraud and one count of money laundering involving more than $63,000 allegedly wired to a lender for a “home payoff.” Wood served as Agridime’s operations director.
• Joshua Link, of Strafford, MO, charged with 10 counts of wire fraud, one count of conspiracy to commit wire fraud and two counts of money laundering, including wiring more than $527,000 to purchase real property. Link served as executive director.
• Tia Link, of Smithton, MO, charged with three counts of wire fraud, one count of conspiracy to commit wire fraud and one count of money laundering, including wiring more than $527,000 to purchase real property. She served as marketing director.
• Taylor Bang, of Kildeer, ND, charged with eight counts of wire fraud, one count of conspiracy to commit wire fraud and one count of money laundering. Bang served as a cattle broker.
• Royana Thomas, of Arlington, TX, charged with six counts of wire fraud, one count of conspiracy to commit wire fraud and one count of money laundering. Thomas served as financial controller.
Scheme spanned three years
According to the indictment, from January 2021 through December 2023, the five defendants, acting through Agridime, allegedly orchestrated a fraud scheme targeting individual cattle purchasers, ranchers and feedlots nationwide.
Prosecutors allege that Agridime represented that it would use investor funds to purchase specific, individual cattle on behalf of each buyer, raise those cattle and ultimately sell meat from the same animals for a profit. Investors were promised returns ranging from 15-32% on cattle contracts.
In reality, the indictment alleges the defendants did not use victim funds as represented. Instead, prosecutors claim newer investor funds were used to pay Agridime’s operating expenses, cover obligations owed to earlier purchasers, fund personal expenses and acquire real property. The company allegedly purchased only a fraction of the cattle it claimed to secure.
Federal authorities contend the defendants fraudulently collected more than $220 million from over 2,200 victims nationwide through public and private advertising statements. The Federal Bureau of Investigation (FBI) estimates that more than 2,000 cattle contract buyers suffered losses totaling approximately $115 million.
On Jan. 29, a federal arrest warrant was issued for Joshua Link in the U.S. District Court for the Northern District of Texas, Fort Worth Division. The FBI is seeking the public’s assistance in locating Link, who has known ties to Kansas, Missouri, Illinois, Arkansas, Colorado and Arizona. The FBI requests that the public contact the agency with any information regarding Link’s location at tips.fbi.gov.
Tia Link and Bang appeared for arraignment before a U.S. magistrate judge in Fort Worth and were released under pretrial supervision. Wood and Thomas are scheduled to appear for arraignment on Feb. 25.
If convicted, each defendant faces up to 20 years in federal prison for each wire fraud count and up to 20 years for the conspiracy charge. The money laundering counts carry potential penalties of up to 10 years’ imprisonment per count.
Authorities emphasized that an indictment is an allegation and that all defendants are presumed innocent unless and until proven guilty in a court of law. — Charles Wallace, WLJ contributing editor
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