Link Brothers Convicted in $240M Cattle Ponzi Scheme

FORT WORTH, Texas — A federal jury convicted brothers Joshua Robert Link and Jason Allen Link of multiple fraud-related offenses for their roles in a $240 million scheme that defrauded more than 2,200 victims across the United States through Fort Worth-based Agridime, LLC, prosecutors announced.

Read the U.S. Attorney's Office release: https://www.justice.gov/usao-ndtx/pr/federal-jury-convicts-brothers-massive-240-million-cattle-investment-fraud-and

United States Attorney for the Northern District of Texas Ryan Raybould announced the verdict, according to the release.

Joshua Robert Link, formerly of Strafford, Missouri, was Agridime's co-owner and Executive Director, according to the release.

Jason Allen Link, of Herrington, Kansas, owned Shady Brook Ranch, LLC and served as an Agridime livestock broker and Meat Chain Director, according to the release.

Six-Day Trial, Eleven Counts, And A November 10 Verdict

Following a six-day trial before U.S. District Judge Mark T. Pittman, the jury convicted the two men on November 10, 2026, according to the release.

Joshua Link: Convicted of two counts of wire fraud conspiracy, two counts of wire fraud, and two counts of money laundering.

Jason Link: Convicted of one count of wire fraud conspiracy, two counts of wire fraud, and two counts of money laundering.

According to court documents cited in the release, Joshua Link conspired with Jed Hansel Wood of Fort Worth, Texas; Tia Makenzie Link of Smithton, Missouri; Taylor Orris Bang of Kildeer, North Dakota; and Royana Jane Thomas of Arlington, Texas, to operate Agridime and defraud cattle purchasers.

Two Thousand Dollars A Head, Ponzi Payments, And Inflated Herds

Trial evidence showed the company offered cattle online at $2,000 for one steer or heifer, promising each buyer's money would purchase specific individual cattle for that buyer, according to the release.

Prosecutors said the contracts falsely represented that Agridime would buy, care for, process, and sell the meat from those same specific cattle, according to the release.

Instead, buyer funds were used to pay Agridime operating expenses, loan payments, and money owed to earlier cattle purchasers under their contracts, according to the release.

The company also fraudulently overstated how many cattle it owned to secure loans and financing from financial institutions, private lenders, and feedlots, according to the release.

From January 2021 through December 2023, Agridime collected over $240 million based on fraudulent misrepresentations in public and private advertising, according to the release.

Court documents indicate more than 2,200 individual victims across the United States paid for specific heads of cattle under those contracts, according to the release.

From 2022 through 2023, the conspirators paid themselves salaries and commissions, with Josh and Tia Link receiving over $2.7 million and Jed Wood receiving over $2.4 million, according to the release.

Agridime was headquartered in Fort Worth from 2021 to 2023 and also raised and processed cattle in Arizona, Kansas, North Dakota, and other locations, according to the release.

Feed And Yardage, A Luxury Barndominium, And A Hummer

The jury also found the brothers conspired to defraud Agridime itself, according to the release.

From November 2021 through January 2024, the brothers submitted fraudulent requests for feed and yardage payments that caused Agridime to disburse over $2.7 million to a business solely controlled by Jason Link, according to the release.

A separate company had actually provided and been paid for the cattle feed, so Agridime paid twice for the same service, according to the release.

Bank records showed $1,498,275 was paid to a construction company to build a luxury five-bedroom, four-bathroom barndominium residence in Herington, Kansas, for the brothers' recreational use, according to the release.

Bank records also showed $24,838 was used to purchase a 2006 Hummer H2, along with thousands of dollars in checks for solar panel installations and plumbing supplies, according to the release.

"These defendants preyed directly on Main Street Americans who believed they were investing in cattle contracts," U.S. Attorney Ryan Raybould said in the release.

"These convictions reflect the two brothers' calculated efforts to lure prospective investors into their multi-million-dollar scheme and then misappropriate those funds to enrich themselves," FBI Dallas Special Agent in Charge R. Joseph Rothrock said in the release.

Four Guilty Pleas, Prison Exposure, And March Sentencing

The four other conspirators pleaded guilty before trial, according to the release.

Jed Hansel Wood, Operations Director: Pleaded guilty to one count of wire fraud conspiracy on March 25.

Tia Makenzie Link, Marketing Director: Pleaded guilty to one count of money laundering on June 17.

Taylor Orris Bang, Cattle Broker: Pleaded guilty to one count of wire fraud conspiracy on September 9.

Royana Jane Thomas, Financial Controller: Pleaded guilty to one count of wire fraud conspiracy on November 4.

Joshua Link and Jason Link each face 20 years in prison on each conspiracy conviction, 20 years on each wire fraud conviction, and 10 years on each money laundering conviction, according to the release.

The defendants also face supervised release, restitution, and monetary penalties, according to the release.

Sentencing for Joshua Link and Jason Link is set for March 4, 2027, according to the release.

The FBI's Fort Worth Resident Agency and the U.S. Department of Agriculture Office of Inspector General conducted the investigation, and Assistant U.S. Attorneys Mark McDonald and Allyson Monte prosecuted the case, according to the release.

Anyone with information about investment fraud can contact the FBI through its local field offices or tip line.

Sources U.S. Attorney's Office, Northern District of Texas — Official Press Release, November 11, 2026: https://www.justice.gov/usao-ndtx/pr/federal-jury-convicts-brothers-massive-240-million-cattle-investment-fraud-and