Federal jury convicts two brothers in $240 million Fort Worth cattle Ponzi scheme

article Joshua Robert Link (Source: FBI) The Brief A federal jury in Fort Worth convicted brothers Joshua and Jason Link for running a $240 million cattle investment Ponzi scheme. Prosecutors proved Agridime sold contracts for 60,000 nonexistent cattle to over 2,200 victims, diverting funds for personal luxury items. Both brothers face decades in federal prison and restitution orders, with sentencing scheduled for March 4, 2027. FORT WORTH, Texas - A federal jury in Fort Worth has convicted two brothers for orchestrating a $240 million cattle investment fraud and embezzlement scheme that defrauded more than 2,200 victims across the country, federal prosecutors announced Wednesday. Cattle investment fraud and embezzlement scheme Following a six-day trial before U.S. District Judge Mark T. Pittman, jurors on Tuesday found Joshua Robert Link, formerly of Strafford, Missouri, and Jason Allen Link, of Herington, Kansas, guilty on multiple felony counts tied to Fort Worth-based Agridime, LLC. Facebook post unavailable Joshua Link, who served as Agridime’s co-owner and executive director, was convicted of two counts of wire fraud conspiracy, two counts of wire fraud and two counts of money laundering. Jason Link, who owned Shady Brook Ranch, LLC and served as an Agridime livestock broker and meat chain director, was convicted of one count of wire fraud conspiracy, two counts of wire fraud and two counts of money laundering. What they're saying: "These defendants preyed directly on Main Street Americans who believed they were investing in cattle contracts," U.S. Attorney for the Northern District of Texas Ryan Raybould said in a statement. "Instead of building a legitimate cattle business, the Link brothers ran a high-tech Ponzi scheme, siphoning away hard-earned life savings to build luxury retreats and line their own pockets." The backstory: According to court records and trial evidence, Agridime solicited investors online and directly between January 2021 and December 2023, offering the public the ability to buy individual steers or heifers for $2,000 each. Contracts falsely promised that investor funds would be used to purchase, raise, process and sell specific cattle on each buyer's behalf. Instead, prosecutors proved the conspirators operated a Ponzi scheme using new investor money to pay operating expenses, loans and returns owed to earlier investors. Overall, Agridime collected more than $240 million while selling approximately 60,000 more heads of cattle than it actually held in inventory, while also overstating its herd size to secure outside financing. Between 2022 and 2023, conspirators diverted company funds into exorbitant salaries and commissions, with Joshua Link and co-defendant Tia Makenzie Link receiving more than $2.7 million and co-defendant Jed Hansel Wood receiving over $2.4 million. Jurors also found that between November 2021 and January 2024, the Link brothers embezzled more than $2.7 million directly from Agridime by submitting fraudulent "feed and yardage" invoices for Jason Link’s business, Shady Brook Ranch, even though another company had already provided and been paid for the cattle's feed. Bank records presented at trial showed proceeds from the scheme funded personal luxury purchases, including: $1,498,275 paid to construct a five-bedroom, four-bathroom "barndominium" recreational residence in Herington, Kansas. $24,838 to purchase a 2006 Hummer H2. Thousands of dollars in checks for solar panel installations and plumbing supplies. Four additional co-conspirators pleaded guilty ahead of the trial: Jed Hansel Wood of Fort Worth, Agridime’s operations director, pleaded guilty March 25 to one count of wire fraud conspiracy. Tia Makenzie Link of Smithton, Missouri, the company's marketing director, pleaded guilty June 17 to one count of money laundering. Taylor Orris Bang of Kildeer, North Dakota, a cattle broker, pleaded guilty Sept. 9 to one count of wire fraud conspiracy. Royana Jane Thomas of Arlington, Texas, the company's financial controller, pleaded guilty Nov. 4 to one count of wire fraud conspiracy. What's next: Joshua and Jason Link face up to 20 years in federal prison for each conspiracy and wire fraud conviction, and up to 10 years for each money laundering count, along with restitution and monetary penalties. Their sentencing is scheduled for March 4, 2027. The case was investigated by the FBI’s Fort Worth Resident Agency and the U.S. Department of Agriculture Office of Inspector General. The Source: Information in this article is from the U.S. Attorney's Office, Northern District of Texas. News Crime and Public Safety Texas