Texas brothers convicted in $240m cattle scheme that defrauded 2,200 people

Four Agridime associates also pleaded guilty to fraud and money laundering charges before the brothers' trial.What seemed like a chance to invest in cattle and profit from the meat business turned into a multimillion-dollar fraud that hit thousands of Americans. Investors were led to believe their money would buy, raise and process cattle until the meat could be sold at a profit. But federal prosecutors say the business operated on a very different model, using money from new investors to pay earlier commitments and fund personal luxuries. The scheme has now led to the federal conviction of two brothers in Texas.Brothers found guilty after six-day federal trialAccording to the US Department of Justice, Joshua Robert Link and Jason Allen Link were convicted on Nov. 10, 2026, by a federal jury for their roles in a $240 million cattle-investment fraud involving Fort Worth-based Agridime LLC.The verdict followed a six-day trial before U.S. District Judge Mark T. Pittman. Joshua Link, co-owner and executive director of the company, was convicted of two counts of conspiracy to commit wire fraud, two counts of wire fraud and two counts of money laundering.His brother, Jason Link, Agridime’s livestock broker and meat chain director, was convicted on one count of conspiracy to commit wire fraud, two counts of wire fraud and two counts of money laundering.The operation had more than 2,200 investors across the country, many of whom believed they were buying cattle contracts backed by actual livestock, the Fort Worth Star-Telegram reported.How the cattle investment business was supposed to be runThe US Department of Justice said Agridime marketed directly to customers and through online ads, allowing them to buy individual cattle.Typically investors had to pay about $2,000 for a steer or heifer. In return they were promised that the company would use their money to buy certain animals, feed them, turn them into meat and eventually sell the products.But evidence presented at trial established the company collected more money than its actual cattle inventory could support.Federal prosecutors said Agridime sold contracts for about 60,000 more cattle than it controlled. The company fraudulently obtained over $240 million from prospective investors through false representations from January 2021 through December 2023.Instead of continually buying and maintaining the promised livestock, the defendants used incoming payments to pay for business expenses, loans and amounts owed to earlier investors. The US Department of Justice also described how company money was siphoned off into salaries and commissions for the people involved in the operation.More than $2.7 million diverted through another businessThe investigation also unearthed another financial link between the brothers and Shady Brook Ranch LLC, a company owned by Jason Link.The US Department of Justice said the brothers then falsely claimed cattle feed and yardage expenses from November 2021 to January 2024. Agridime’s demands led to Shady Brook Ranch sending over $2.7 million.Investigators found the ranch did not provide the services for which the payments were requested. It was as if Agridime was paying twice for the same expenses because another company had already provided and been paid for the cattle’s feed.Tthe Fort Worth Star-Telegram reported that the brothers used the diverted funds to pay for personal purchases, including a luxury residential property in Kansas,Luxury property and personal purchases paid for with diverted moneyAccording to investigators, bank records showed a construction company received approximately $1,498,275 for a five-bedroom, four-bathroom barndominium in Herington, Kansas.The property was a recreational home built for the brothers’ use, the US Department of Justice said. The group also spent some $24,838 on a 2006 Hummer H2, plus thousands on plumbing supplies and solar panel installations, among other expenses.Those payments were part of the evidence that money from the cattle contracts was allegedly diverted to enrich individuals rather than to meet obligations to investors.Four other defendants had previously pled guiltyFour others also admitted guilt before the brothers went on trial. Agridime’s operations director Jed Wood pled guilty to conspiracy to commit wire fraud, the US Department of Justice said. Marketing director Tia Link admitted to money laundering. Cattle broker Taylor Bang and financial controller Royana Thomas admitted to conspiracy to commit wire fraud charges.The prosecution proved that various individuals had distinct roles within Agridime, assisting in the operation of its cattle business and the broader fraudulent scheme.Brothers face jail if found guiltyAccording to the Fort Worth Star-Telegram, Joshua and Jason Link face the prospect of lengthy jail sentences following their convictions. Each count of conspiracy and wire fraud carries a potential maximum sentence of 20 years, and each count of money laundering carries a potential maximum sentence of 10 years.They are due to be sentenced on March 4, 2027. They also could face supervised release, restitution payments and financial penalties.The FBI’s Fort Worth Resident Agency and the Office of Inspector General at the US Department of Agriculture conducted the investigation, according to the US Department of Justice. It is being prosecuted by Assistant U.S. Attorneys Mark McDonald and Allyson Monte.The convictions are a major development in a fraud investigation that revealed how thousands of investors were enticed into putting their savings into a cattle business that prosecutors said was unable to deliver on its promises.Images Courtesy: istock