5 Charged in $220M Agridime Cattle Fraud Scheme

A North Dakota man is among those accused of running a Ponzi scheme that defrauded thousands of investors and cattle producers nationwide.

Published on Feb. 18, 2026

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A North Dakota man named Taylor Bang is one of five people facing federal criminal charges related to investments in the cattle and beef marketing company Agridime, which was determined to be a Ponzi scheme. The company promised investors profits of up to 30% on cattle investments but instead used money from new investors to pay off earlier ones, owing a total of $220 million to over 2,200 victims across the U.S. Bang and the other defendants are accused of wire fraud, conspiracy, and money laundering.

Why it matters

This case highlights the growing problem of fraud in the agricultural industry, where complex supply chains and high-stakes investments can leave many vulnerable to scams. The Agridime scheme targeted rural communities in states like North Dakota, where the loss of millions of dollars in investments has had a significant impact on local economies and eroded trust in the cattle industry.

The details

According to the indictment, the Agridime scheme operated by taking in over $220 million from more than 2,200 victims nationwide starting in 2021. The defendants are accused of using tactics like falsifying records, giving investors false information, and diverting funds to personal accounts to conceal the fraud. Taylor Bang, a North Dakota resident, is charged with wire fraud, conspiracy, and money laundering for his role in the scheme, which allegedly included funneling $240,000 to his own account instead of Agridime's.

  • In August 2024, a judge determined that Agridime had operated as a Ponzi scheme.
  • The indictment was filed in U.S. District Court in Texas last week.
  • Bang and Tia Link made a court appearance in Texas last week and were released under pretrial supervision.
  • Bang, Jed Wood, and Royana Thomas are set to appear in court in the coming weeks.

The players

Taylor Bang

A North Dakota resident who is charged with eight counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of money laundering for his role in the Agridime Ponzi scheme.

Jed Wood

The operations director of Agridime, who is charged with three counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of money laundering.

Joshua Link

The executive director of Agridime, who is charged with 10 counts of wire fraud, one count of conspiracy to commit wire fraud, and two counts of money laundering, including wiring more than $527,000 to purchase real property.

Tia Link

The marketing director of Agridime, who is charged with three counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of money laundering, including wiring more than $527,000 to purchase real property.

Royana Thomas

The financial controller of Agridime, who is charged with six counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of money laundering.

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What they’re saying

“'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.'”

— Ryan Raybould, U.S. Attorney for the Northern District of Texas (News release)

“'The figure was 'way high.'”

— Taylor Bang (North Dakota Monitor)

What’s next

The judge in the case will decide on February 25th whether to allow Jed Wood and Royana Thomas to be released on bail.

The takeaway

This case serves as a stark warning about the dangers of fraud in the agricultural industry, where complex supply chains and high-stakes investments can leave many vulnerable. It highlights the need for stronger regulations and oversight to protect farmers, ranchers, and investors from such scams in the future.