North Dakota Man Indicted in Alleged $220 Million Cattle Fraud Scheme

KILLDEER, N.D. – A federal grand jury has indicted five individuals, including Taylor Bang of Killdeer, North Dakota, on charges related to a massive cattle fraud scheme estimated at $220 million. The scheme, operated through a company called Agridime, allegedly defrauded over 2,200 investors across the United States between January 2021 and December 2023.

The Agridime Scheme

Prosecutors allege that Agridime promised investors profits by purchasing and raising cattle, ultimately selling the meat for a return. However, instead of using investor funds as promised, the company allegedly used newer investments to pay operating expenses, personal expenses and purchase property. This practice is characteristic of a Ponzi scheme, where early investors are paid with money from new investors, rather than actual profits.

Charges and Allegations

Taylor Bang is facing eight counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of money laundering. The indictment claims that Bang falsified records and provided investors with false information regarding cattle identification tags. Prosecutors also allege that one individual sent $240,000 to an account controlled by Bang, rather than directly to Agridime, in an attempt to conceal the transaction.

The other individuals indicted are:

• Jed Wood of Fort Worth, Texas (operations director): Three counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of money laundering.
• Joshua Link of Strafford, Missouri (executive director): Ten 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 of Smithton, Missouri (marketing director): 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 of Arlington, Texas (financial controller): Six counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of money laundering.

“Ghost Herd” and Financial Collapse

Investigations revealed that Agridime failed to purchase a sufficient number of cattle to fulfill its contracts, leading to the scheme being dubbed the “ghost herd.” A judge determined in August 2024 that Agridime operated as a Ponzi scheme [cattlerange.com]. The North Dakota Securities Commission estimates that investors in North Dakota were owed approximately $40 million when federal authorities intervened in late 2023 [newsfromthestates.com].

Current Status and Potential Penalties

Bang and Tia Link have already appeared in court in Texas and have been released under pretrial supervision. Jed Wood and Royana Thomas are scheduled to appear in court on February 25. Joshua Link remains a fugitive, and the FBI is requesting public assistance in locating him [kfyrtv.com].

If convicted, each defendant faces up to 20 years in federal prison for each wire fraud count and the conspiracy charge, and up to 10 years for each money laundering count. The indictment also allows for the forfeiture of any property obtained through the fraud scheme.

According to the North Dakota Securities Department, Bang earned $6 million in commissions from Agridime, a figure he disputed as being “way high” in December 2023 [newsfromthestates.com].