Five people associated with the Fort Worth-based company Agridime LLC were indicted Wednesday for their alleged role in a $220 million swindle involving the sale of cattle contracts, federal officials said.
“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,” U.S. Attorney Ryan Raybould of the Texas Northern District said in a Department of Justice news release.
The defendants — Jed Wood of Fort Worth; Royana Thomas of Arlington; Joshua Link of Stafford, Missouri; Tia Link of Smithton, Missouri; and Taylor Bang of Kildeer, North Dakota — are accused of using investors’ money to purchase real property and for personal expenses.
Joshua Link, Agridime’s executive director, is not in custody and is on the FBI’s Most Wanted list. He’s been charged with 10 counts of wire fraud, one count of conspiracy to commit wire fraud and two counts of money laundering, according to the release. He and his wife, Tia Link, are accused of wiring over $527,000 to buy real property.
According to the indictment, the defendants collected more than $220 million by promising investors their funds would be used to buy and raise cattle and sell the meat for a profit. Over 2,200 victims, including cattle purchasers, ranchers and feedlots, have been identified nationwide. Those affected by the scheme can visit Agridime’s website to see how the company is handling investors’ claims.
If convicted, the suspects could face up to 20 years in federal prison for each count of wire fraud and wire fraud conspiracy and 10 years for each count of money laundering.
All the defendants have been indicted on one count of conspiracy to commit wire fraud and at least one count of money laundering, officials said in the release. Thomas has been charged with six counts of wire fraud, Bang with eight, and Tia Link and Wood with three. Wood is also accused of wiring more than $63,000 for a “home payoff,” the release states.
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