A federal jury has convicted brothers Joshua Link, formerly of Strafford, Missouri, and Jason Link, of Herington, Kansas, for their roles in a $240 million cattle investment fraud scheme that defrauded more than 2,200 victims across the United States.

The brothers were convicted on Tuesday after a six-day trial before U.S. district judge Mark Pittman on the scheme, which operated through Fort Worth-based company Agridime LLC.

Mr (Joshua) Link, Agridime’s co-owner and executive director, was found guilty of two counts of wire fraud conspiracy, two counts of wire fraud and two counts of money laundering.

Mr (Jason) Link, who owned Shady Brook Ranch LLC and served as Agridime’s livestock broker and Meat Chain Director, was found guilty of one count of wire fraud conspiracy, two counts of wire fraud and two counts of money laundering.

Agridime offered members of the public the opportunity to purchase individual cattle for $2,000 each, promising to care for the animals, process them into meat and sell the meat from the same cattle.

However, the conspirators used money paid by cattle purchasers to cover the company’s operating expenses, loan payments and debts owed to earlier purchasers under their contracts.

They also overstated the number of cattle Agridime owned to obtain loans and financing from financial institutions, private lenders, and feedlots.

Between January 2021 and December 2023, Agridime collected more than $240 million through fraudulent representations in public and private advertising statements and sold approximately 60,000 more cattle than it controlled in its inventory.

The conspirators also diverted the funds to pay themselves excessive salaries and commissions to cattle brokers. Between 2022 and 2023, Mr Joshua and Tia Link received more than $2.7 million in salaries and commissions, while Jed Wood received more than $2.4 million.

In a separate scheme to defraud Agridime, the brothers submitted fraudulent payment requests described as feed and yardage expenses between November 2021 and January 2024.

The requests caused Agridime to pay more than $2.7 million to Shady Brook Farms, a company controlled by Mr (Jason) Link, even though the company did not provide the services. Another company had already supplied and received payment for the cattle feed, resulting in Agridime paying twice for the same service.

The brothers also used some of the proceeds for personal expenses, including $1.49 million to build a luxury five-bedroom, four-bathroom residence in Herington, Kansas, for their recreational use. They also spent $24,838 on a 2006 Hummer H2, alongside thousands of dollars on solar panel installations and plumbing supplies.

Four other conspirators involved in the scheme had pleaded guilty before the brothers’ trial.

They include Jed Wood, Agridime’s operations director, who pleaded guilty to wire fraud conspiracy on March 25; Mr (Tia) Link, the company’s marketing director, who pleaded guilty to money laundering on June 17; and Taylor Bang, a cattle broker, who pleaded guilty to wire fraud conspiracy on September 9.

Royana Thomas, the company’s financial controller, also pleaded guilty to wire fraud conspiracy on November 4.

Messrs (Joshua) and (Jason) Link face up to 20 years in prison for each wire fraud conspiracy and wire fraud conviction and up to 10 years for each money laundering conviction. They also face supervised release, restitution and monetary penalties.

Their sentencing has been scheduled for March 4, 2027.