Two brothers used false cattle-feeding bills to divert money from a livestock business, with nearly $1.5 million going toward a luxury Kansas retreat, federal prosecutors said. A jury convicted Joshua Robert Link and Jason Allen Link on November 10, 2026, after a six-day trial in Fort Worth.
The case also involved a much larger fraud against customers of Agridime LLC. The Fort Worth company collected more than $240 million from over 2,200 victims who paid for cattle, according to the Justice Department’s November 11 announcement.
Joshua was Agridime’s co-owner and executive director. Jason owned Shady Brook Ranch LLC and worked as an Agridime livestock broker and meat chain director.
Joshua’s convictions included his participation in the cattle-purchaser fraud. Both brothers were convicted in a separate conspiracy that used false feed-payment requests to defraud Agridime itself and its owners.
Customers Bought $2,000 Cattle Contracts That Outstripped the Herd
Agridime offered customers an individual steer or heifer for $2,000. Their contracts represented that the money would buy specific cattle, cover their care and ultimately produce meat that the company would sell.
The company did operate a livestock business, raising and processing cattle in Arizona, Kansas, North Dakota and elsewhere. But prosecutors said it sold contracts for approximately 60,000 more animals than it controlled, leaving its cattle inventory far short of its promises.
Incoming purchaser money instead helped pay operating expenses, loans and obligations to earlier cattle buyers. Trial evidence also showed that Agridime overstated its cattle holdings to obtain financing from banks, private lenders and feedlots.
The SEC’s December 2023 announcement described allegations that Agridime advertised annual returns of 15% to 32%. The agency’s complaint also alleged that, since December 2022, at least $58 million in newer investor money had gone toward payments to earlier investors.
Company executives received substantial compensation during the operation. The Justice Department said Joshua and marketing director Tia Makenzie Link together received more than $2.7 million in salaries and commissions during 2022 and 2023, while operations director Jed Hansel Wood received more than $2.4 million.
False Feed Bills Paid for a Kansas Retreat and a Hummer
The separate scheme against Agridime concerned payments for cattle feeding and yardage. According to the Justice Department’s account of the trial, the brothers caused Agridime to pay more than $2.7 million to Jason’s business between November 2021 and January 2024 for services Shady Brook had not provided.
Another company had supplied the feed and already received payment. Agridime therefore paid twice for the same service.
A seven-page excerpt of the September 11 second superseding indictment details the arrangement. Prosecutors alleged that no lease required Agridime to pay for using Shady Brook’s land and that it owed Shady Brook nothing for caring for the cattle. The filing described Joshua sending accounting staff payment requests for services the brothers knew another company had provided.
Bank records traced $1,498,275 to a construction company building a five-bedroom, four-bathroom barndominium in Herington, Kansas, for the brothers’ recreational use, prosecutors said. Another $24,838 bought a 2006 Hummer H2, with additional checks covering solar installations and plumbing supplies.
Brothers Await March Sentencing After Guilty Verdicts
Joshua was convicted of two counts of conspiracy to commit wire fraud, two counts of wire fraud and two counts of money laundering. Jason was convicted of one wire-fraud conspiracy count, two wire-fraud counts and two money-laundering counts. Both are scheduled to be sentenced March 4, 2027.
Four other defendants pleaded guilty before the verdict. Wood admitted wire-fraud conspiracy on March 25, 2026, and Tia Link pleaded guilty to money laundering on June 17.
Cattle broker Taylor Orris Bang pleaded guilty to wire-fraud conspiracy on September 9. Financial controller Royana Jane Thomas pleaded guilty to that offense on November 4, shortly before the brothers’ trial concluded.
Civil Orders Require Repayment Through a Receiver
The criminal verdict followed separate civil enforcement proceedings. The SEC obtained final judgments on September 19, 2025, against Agridime, Joshua Link and Wood, including financial orders and restrictions on the two men’s future securities activities.
The CFTC separately announced an order requiring Agridime to pay $102,936,904 in restitution through the court-appointed receiver’s collection and distribution efforts. That is an ordered repayment obligation, not confirmation that victims received that amount. The regulator cautioned that insufficient assets can prevent full recovery.
Check the Assets Behind a Promised Investment Return
The SEC’s Ponzi-scheme guidance identifies high returns with little or no risk, incomplete information and difficulty receiving payments as warning signs. A history of payouts alone does not establish that an investment generates legitimate earnings, because newer investors’ money can fund earlier payments.
Before investing, check the promoter and offering and understand how the promised profit will be earned. For a livestock investment, ask what independent records support the claimed ownership and number of animals; a seller’s contract alone is not independent verification.
Keep contracts, advertising, payment records and correspondence if you suspect an investment was misrepresented. Suspected securities fraud can be reported through the SEC’s tips and complaints system.