Full Breakdown
Indictments in $220 Million Cattle Fraud Case in Fort Worth
2/15/2026, 4:01:45 AM
Overview of the Fraud Operation
Five individuals have been indicted in a federal case involving a $220 million cattle fraud scheme based in Fort Worth, Texas. The indictments were issued by a grand jury and announced by the U.S. Attorney's Office for the Northern District of Texas. The accused include Jed Wood, Joshua Link, Tia Link, Taylor Bang, and Royana Thomas, who face charges including money laundering, wire fraud, and conspiracy to commit wire fraud. Joshua Link remains at large, according to an FBI bulletin.
Allegations Against the Suspects
The suspects are alleged to have operated through Agridime, a company that provided cattle sales and meat processing services. From January 2021 to December 2023, they purportedly misrepresented themselves to clients, including cattle buyers, ranchers, and feedlots. Instead of using client funds to purchase and raise cattle, the suspects allegedly diverted the money for personal expenses, real estate purchases, and to cover Agridime's operational costs. The company had promised investors returns ranging from 15% to 32%, but only a fraction of the cattle for which money was received was actually purchased.
Scale of the Fraud
Prosecutors claim that the suspects defrauded over 2,200 individual victims across the United States, taking approximately $220 million in total. Agridime's website indicated that at least $58 million of new investor funds were used to make Ponzi payments to earlier investors, while over $11 million was allocated for undisclosed sales commissions to the suspects.
Official Statements
U.S. Attorney Ryan Raybould emphasized the commitment to holding the defendants accountable, stating, "My office, in concert with our law enforcement partners, will hold these defendants accountable and pursue justice on behalf of the victims." Joshua Rothrock, the FBI Dallas Special Agent in Charge, noted that the suspects "used false promises to lure prospective clients" and misappropriated funds for personal gain.
Criticism & Opposition
While the indictments have been welcomed by some as a necessary step toward justice, there are concerns regarding the broader implications for the cattle industry. Critics argue that such high-profile fraud cases can undermine trust in legitimate cattle investment opportunities, potentially harming honest ranchers and investors.
Conflicting Reports & Gaps
There are discrepancies regarding the exact number of victims and the total amount of money involved. While prosecutors assert that over 2,200 individuals were defrauded, the specific breakdown of losses per victim has not been disclosed. Additionally, the status of Joshua Link, who remains wanted, raises questions about the full scope of the investigation and potential additional charges.
What's Next
As the case progresses, Agridime is currently under receivership, and further investigations may reveal additional details about the operation and its impact on the cattle industry. The legal proceedings against the indicted individuals are expected to unfold in the coming months, with potential implications for both the victims and the broader agricultural sector.
