Five charged in $220 million Fort Worth cattle fraud scheme

Suspects accused of defrauding thousands of investors, ranchers, and others in the cattle industry

Published on Feb. 13, 2026

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Five people have been indicted by a federal grand jury in Fort Worth, Texas for allegedly running a $220 million cattle fraud operation through their company Agridime. The suspects are accused of falsely representing themselves to cattle buyers, ranchers, and feedlots, taking money from clients to buy cattle but instead using the funds to pay Agridime's operating expenses, personal expenses, and to purchase real estate. They are also accused of using new investor funds to make Ponzi payments to prior investors.

Why it matters

This case highlights the growing problem of fraud in the cattle industry, where unscrupulous operators are taking advantage of investors and ranchers. The large scale of the alleged fraud, involving over $220 million and more than 2,200 victims across the country, underscores the need for stronger regulation and oversight in the cattle trade to protect consumers and businesses.

The details

According to the indictments, the five suspects - Jed Wood, Joshua Link, Tia Link, Taylor Bang, and Royana Thomas - were involved with Agridime, a Fort Worth-based business that offered cattle sales and meat processing services. From January 2021 to December 2023, the suspects allegedly made false representations to clients, taking money to purchase cattle but instead using the funds for Agridime's operating expenses, personal expenses, and real estate purchases. They are also accused of using new investor funds to make Ponzi payments to prior investors.

  • The alleged fraud took place from January 2021 to December 2023.
  • The indictments were handed down by a Fort Worth federal grand jury on February 13, 2026.

The players

Jed Wood

One of the five suspects indicted in the $220 million cattle fraud case.

Joshua Link

One of the five suspects indicted in the $220 million cattle fraud case, who remains wanted by the FBI.

Tia Link

One of the five suspects indicted in the $220 million cattle fraud case.

Taylor Bang

One of the five suspects indicted in the $220 million cattle fraud case.

Royana Thomas

One of the five suspects indicted in the $220 million cattle fraud case.

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What they’re saying

“My office, in concert with our law enforcement partners, will hold these defendants accountable and pursue justice on behalf of the victims.”

— Ryan Raybould, U.S. Attorney (wfaa.com)

“The suspects used false promises to lure prospective clients and then took the money to enrich themselves.”

— Joshua Rothrock, FBI Dallas Special Agent in Charge (wfaa.com)

What’s next

Joshua Link remains wanted by the FBI, and the case against the five suspects is ongoing as Agridime is currently under receivership.

The takeaway

This massive cattle fraud scheme underscores the need for stronger regulation and oversight in the cattle industry to protect investors, ranchers, and consumers from unscrupulous operators looking to exploit vulnerabilities for personal gain.