Five cattle industry executives are facing federal charges for allegedly orchestrating one of the largest livestock investment fraud schemes in recent history, bilking over 2,200 investors out of a staggering $220 million through what prosecutors describe as an elaborate shell game.
A federal grand jury in Fort Worth has indicted Jed Wood of Fort Worth, Royanna Thomas of Arlington, Joshua Link of Stratford, Missouri, Tia Link of Smithton, Missouri, and Taylor Bang of Kildeer, North Dakota — all executives of Agridime LLC — on charges including wire fraud and money laundering. The scheme allegedly ran from January 2021 through December 2023, with Joshua Link currently considered a fugitive.
Promises of Prime Profits
“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,” said U.S. Attorney Ryan Raybould in a statement released after the charges were filed.
According to the indictment, the defendants allegedly promised investors they would use their money to purchase, raise, and eventually sell specific cattle for profit. Instead, prosecutors claim they diverted those funds to pay for personal expenses, real estate acquisitions, and to maintain their fraudulent operation — essentially running a cattle-themed Ponzi scheme.
FBI Dallas Special Agent in Charge R. Joseph Rothrock explained that the defendants “allegedly used false promises to lure prospective clients into their scheme and then misappropriated client funds to enrich themselves.” He added a public plea for information on the whereabouts of Joshua Link, who remains at large.
A Nationwide Web of Deception
How did so many investors fall for the scheme? The Texas-based operation apparently had a convincing pitch. Investigators allege that Agridime executives presented investors with detailed contracts for specific cattle purchases, complete with identification numbers and descriptions of the animals — none of which actually existed as promised.
The Fort Worth grand jury charged that these executives systematically defrauded thousands of investors across the country, many of whom likely believed they were making legitimate agricultural investments during a period when cattle prices were trending upward.
Instead of investing in livestock, the indictment claims the defendants used the funds to cover Agridime’s operating expenses, make payments to earlier investors to maintain the illusion of legitimacy, fund lavish personal spending, and purchase real estate.
Texas at the Center
While the scheme allegedly reached victims nationwide, its nerve center was in Texas. Two of the five defendants — Wood and Thomas — operated from Fort Worth and Arlington, respectively, with the grand jury convening in Fort Worth to hand down the indictments on February 11, 2026.
The case represents one of the largest alleged fraud schemes in the agricultural sector in recent years. Agricultural investment fraud has become increasingly sophisticated, with schemes often targeting both experienced industry participants and outside investors looking to diversify their portfolios.
Authorities haven’t yet detailed how they ultimately uncovered the alleged fraud, but the scale of the operation — involving thousands of investors and hundreds of millions of dollars — likely became difficult to sustain as more investors sought returns on their investments.
If convicted, the defendants face potentially lengthy prison sentences and significant financial penalties, though the indictment represents only the beginning of what will likely be a complex legal process. Meanwhile, the FBI continues its search for Joshua Link while investors await news about whether any of their funds might be recovered.
