CATTLE KINGDOM COLLAPSES! $191 MILLION PONZI SCHEME EXPOSED!

SEC v. Agridime, LLC, Jed Wood, Joshua Link — U.S. Securities and Exchange Commission Litigation Release No. 26415, dated September 30, 2025.

The SEC charged Agridime, LLC, and its founders Jed Wood and Joshua Link, with operating a cattle Ponzi scheme. They allegedly raised at least $191 million by promising guaranteed investment returns from cattle contracts, but instead used investor funds for Ponzi payments and undisclosed commissions. Final judgments were entered against the defendants, enjoining them from future securities law violations and ordering significant monetary relief.

In Plain English

Imagine you have a friend who says they'll buy cows, raise them, and sell them back to you for a profit, like a guaranteed savings account. They promised big returns, like 15% to 32% a year! But instead of buying enough cows, they used money from new investors to pay off earlier investors, like a game of financial musical chairs. This is called a Ponzi scheme. The SEC stepped in and got court orders to stop them and make them pay back the money.

Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.

How the Alleged Scheme Worked

1. Selling Cattle Investments Agridime, LLC, along with its founders Jed Wood and Joshua Link, offered investment contracts to people. These contracts were related to buying and selling cattle. The company claimed to sell cattle to investors for a set price.
2. Promising High Returns Agridime promised investors that after one year, they would buy back the same cattle at a higher price. This was presented as a way to provide a specific, guaranteed investment return, which ranged from 15% to as high as 32% for some contracts.
3. Diverting Investor Funds Instead of using investor money to purchase enough cattle to meet their obligations, the defendants allegedly diverted tens of millions of dollars. These funds were used to make payments to earlier investors, a hallmark of a Ponzi scheme.
4. Paying Undisclosed Commissions A significant portion of the investor funds was also used to pay undisclosed sales commissions. For example, Jed Wood received approximately $1.3 million, and Joshua Link and his wife received approximately $1.3 million in these commissions.
5. Court Intervention On December 11, 2023, the SEC filed a complaint and obtained a temporary restraining order, an asset freeze, and appointed a receiver. This action froze the defendants' assets and halted the fraudulent operation.
6. Final Judgments Entered On September 19, 2025, the SEC obtained final judgments against Agridime, LLC, Jed Wood, and Joshua Link. These judgments permanently enjoin the defendants from violating federal securities laws.
7. Officer and Director Bar As part of the final judgments, Joshua Link and Jed Wood are prohibited from acting as officers or directors of any issuer of securities. They are also barred from participating in the issuance, purchase, offer, or sale of securities.
8. Monetary Penalties Ordered The final judgments ordered substantial monetary penalties. Jed Wood was ordered to pay disgorgement of $1,959,309.67, plus interest and a civil penalty. Joshua Link was ordered to pay disgorgement of $3,106,957.09, plus interest and a civil penalty.
9. Company Liability Agridime, LLC was ordered to pay disgorgement of $102,936,904 and prejudgment interest. The court noted that this amount is deemed satisfied by the receiver's collection efforts.

The Enforcement Action

On September 19, 2025, the Securities and Exchange Commission obtained final judgments against Agridime, LLC, Jed Wood, and Joshua Link, whom the SEC previously charged for their roles in operating a Ponzi scheme. The SEC’s complaint, filed on December 11, 2023, alleged that the defendants raised at least $191 million from at least January 2021 to December 2023 by selling investment contracts related to the purchase and sale of cattle. The final judgments enjoin the defendants from violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and the registration provisions of Section 5 of the Securities Act, and prohibit Link and Wood from acting as officers and directors or participating in the issuance, purchase, offer, or sale of securities. The final judgments also order Wood to pay disgorgement of $1,959,309.67, pre-judgment interest of $373,676.49, and a civil penalty of $236,451; Link to pay disgorgement of $3,106,957.09, pre-judgment interest of $693,251.87, and a civil penalty of $3,106,957.09; and Agridime to pay disgorgement of $102,936,904 and prejudgment interest of $17,310,965.32. The disgorgement and prejudgment interest ordered against Agridime is deemed satisfied by the receiver’s collection efforts. The Commission’s litigation was handled by Tyson M. Lies and Matthew Gulde and supervised by Keefe Bernstein of the SEC’s Fort Worth Regional Office.

Named in this action: Agridime, LLC, Jed Wood, Joshua Link.

Original SEC litigation release ↗ · Browse all cases