SEC v. Agridime, LLC

Agridime, LLC, Jed Wood, and Joshua Link allegedly operated a Ponzi scheme. According to the SEC, from at least January 2021 to December 2023, the defendants raised at least $191 million from investors by selling investment contracts related to the purchase and sale of cattle, promising fixed investment returns. The defendants allegedly did not purchase enough cattle to fulfill Agridime’s contracts and instead diverted tens of millions of dollars in investor funds to make Ponzi payments to prior investors and pay undisclosed sales commissions.

Summary generated from official Securities and Exchange Commission press release