Federal prosecutors have secured convictions against two brothers for running a $240 million cattle investment scam that defrauded thousands of investors across the country.
Joshua Robert Link of Strafford, Missouri, and Jason Allen Link of Herington, Kansas, were found guilty on charges including wire fraud conspiracy, wire fraud and money laundering after a six-day trial in Fort Worth, says the U.S. Attorney’s Office for the Northern District of Texas.
The scheme centered on Agridime, which sold contracts promising individual cattle for $2,000 each but instead diverted the money to pay earlier investors, cover operating costs and fund personal luxuries.
Says U.S. Attorney Ryan Raybould,
“These defendants preyed directly on Main Street Americans who believed they were investing in cattle contracts. Instead of building a legitimate cattle business, the Link brothers ran a high-tech Ponzi scheme, siphoning away hard-earned life savings to build luxury retreats and line their own pockets. Today’s verdict sends an unmistakable message: this office will fiercely defend hard-working citizens from predatory fraudsters and ensure that those who exploit investors are held fully accountable under the law.”
Prosecutors showed the brothers overstated cattle holdings to obtain loans and paid themselves millions in salaries and commissions while shorting investors on actual animals delivered.
“Court documents indicate that over 2,200 individual victims located throughout the United States paid Agridime for specific individual heads of cattle, pursuant to a cattle purchase contract based on fraudulent misrepresentations caused by the defendants.
In total, from January 2021 through December 2023, Agridime collected over $240 million based on fraudulent misrepresentations made in public and private advertising statements…”
Sentencing is scheduled for March 4th, 2027.
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The post Missouri and Kansas Brothers Convicted in Texas of $240,000,000 Cattle Fraud Scheme appeared first on The Daily Hodl.
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