The Securities and Exchange Commission in December announced that it obtained a temporary restraining order, asset freeze, the appointment of a receiver, and other emergency relief to halt an ongoing $191 million cattle Ponzi scheme being perpetrated by Fort Worth, Texas company Agridime LLC, which claims to specialize in meat sales, distribution, and animal supply chain management, and its owners, Josh Link of Gilbert, Arizona, and Jed Wood of Fort Worth.
The North Dakota Securities Department claims a Killdeer rancher made more than $6 million selling under-the-table investment contracts for Agridime, a national cattle company accused by federal regulators of orchestrating
Agridime is alleged to have run a cattle-related Ponzi scheme in multiple states, including North Dakota. The North Dakota Stockmen's Association is helping investigate.