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SEC Targets $190 Million Ponzi Scheme, Agridime, in Enforcement Crackdown


Lauren Miller

March 8, 2024 - 15:59 pm


Massive $190 Million Ponzi Scheme Unravels as SEC Takes Action

MIAMI, March 8, 2024 /PRNewswire/ -- The Securities and Exchange Commission (SEC) has recently initiated an enforcement lawsuit, putting forth allegations against Joshua Link and Jed Wood. The pair, operating through their Texas-based enterprise Agridime LLC, is accused of masterminding a colossal $190 million Ponzi scheme that ensnared over 2,100 unsuspecting investors in its deceptive web.

According to the SEC's account, Agridime amassed substantial funds from investors by peddling "cattle contracts." The proprietors, Link and Wood, purportedly assured investors that their capital would be allocated to the acquisition, nourishment, and processing of cattle. They went on to promise that investors would receive a repayment coupled with guaranteed profits ranging from a substantial 15% to an eye-watering 32% after a year. Emboldened by the alluring prospects, Link and Wood vaingloriously heralded these returns as "too good to be true."

However, it seemed that their boast carried more truth than initially intended. What was presented as a sterling investment opportunity was unmasked as utterly fraudulent. The SEC has alleged that in actuality, Agridime's operation bore all the hallmarks of a classic Ponzi scheme, with the returns to earlier investors being funded not by any legitimate business profits but by the influx of capital from new investors. The agency's findings reveal that from December 1, 2022, to September 30, 2023, Agridime had redirected at least $58 million of investor capital to facilitate these Ponzi payments masquerading as returns.

Aside from the illicit Ponzi payouts, Agridime is further accused of flagrantly misappropriating funds by disbursing an additional $11 million to cover undisclosed commissions for salespeople, which included payments to Link and Wood themselves. Each cattle contract sale was sweetened with a hidden commission, padding the pockets of the sales staff at the cost of investors' trust and finances. As of September 2023, the SEC's investigation has deduced that Agridime carries a debt of roughly $147 million in outstanding cattle contracts, owed back to investors.

In response to the revelations of the Agridime scandal, the Miami-based law firm, Levine Kellogg Lehman Schneider + Grossman LLP (LKLSG), has turned its attention to investigating potential legal remedies for the victims of this fraudulent scheme. Individuals who have been lured into purchasing Agridime's cattle contracts are being encouraged to reach out to attorney Jason Kellogg for counsel. As proponents of justice, LKLSG serves clients across the nation, steadfast in their dedication to representing those wronged by such deceptive practices.

LKLSG has long established itself as a Miami-based bastion of legal expertise, particularly renowned for their skillful and assertive representation in a wide array of high-profile and complex legal cases. Their areas of specialization include intricate commercial litigation, class actions, bankruptcy and receivership affairs, as well as representing both lenders and borrowers in litigation and workout scenarios. Further, they are adept at navigating labor and employment litigation, championing the rights of their clients with unwavering resolve.

Investors led astray by Agridime's facade and seeking restitution are welcomed to initiate a dialogue with attorney Jason Kellogg. They can do so by visiting, LKLSG's official website. Their legal team vigorously assures confidentiality in all communications, ensconcing potential discussions in a sphere of professional discretion. Although their prior successes do not implicitly guarantee identical outcomes, they serve as testament to the law firm's prowess and capability in addressing matters of this magnitude.

Legal Expertise and Representation: Insights into LKLSG

Levine Kellogg Lehman Schneider + Grossman LLP stands as a testament to legal dexterity and tenacity. It is worth delving deeper into their reputation, carved out through consistent delivery of favorable outcomes in noteworthy legal confrontations. The firm prides itself on being agile and hands-on, traits that have placed them amongst the top choices for representation in critical, complex lawsuits. As purveyors of justice, LKLSG's team possesses a honed acuity for guiding their clientele through the intricacies of high-stakes litigation.

Furthermore, the firm's expertise is not circumscribed within the boundaries of Miami. Their influence extends nationally, offering a lifeline to clients residing in various corners of the country. This geographically extensive reach ensures that the victims of fraudulent schemes like Agridime's are not left isolated in their plight but are instead presented with a formidable support system, equipped to navigate through the turmoil stirred up by such deceptive enterprises.

The SEC's Pursuit for Justice

The SEC's allegations and the launch of the enforcement lawsuit signal a significant effort to dismantle Ponzi schemes and shield investors from predatory practices. By highlighting cases such as Agridime's, the SEC delivers a clear warning that the regulatory body remains vigilant and proactive in unearthing and prosecuting financial malfeasance.

The enforcement action championed by the SEC not only seeks restitution for affected investors but also serves to disincentivize would-be fraudsters, demonstrating a firm stance against the manipulation of investment mechanisms for personal gain. By drawing a line in the sand, the SEC aims to reinforce the integrity of financial markets and ensure that investor confidence isn't eroded by the actions of a deceitful few.

Contacting LKLSG for Assistance

Victims of the Agridime Ponzi scheme, or those entangled in similar financial deceptions, are urged to contact Jason Kellogg, Esq., for personalized legal assistance. By reaching out to the contact details available on their website, affected parties can secure a legal ally dedicated to their defense and restitution. Jason Kellogg brings to the table a wealth of experience, honed by tackling an extensive array of legal battles, earning him the respect and trust of clients and peers alike.

For those seeking to converse with attorney Kellogg directly, they may do so by calling at the provided number, 786.673.3029, or by emailing through the secure and confidential email system found on the firm's contact page. As the point of contact and beacon of hope for the clients he represents, Kellogg stands as the gateway to LKLSG's storied, aggressive legal defense and representation.

Unraveling the Ponzi Scheme: A Step-by-Step Account

As the case unfolds, it is crucial to understand the mechanisms of Agridime's Ponzi scheme, as alleged by the SEC. New investors were drawn in by the allure of steady profits from cattle operations; little did they know, their investments were the lifeblood that kept the scheme afloat. The continued influx of new investment was the primary means to fund the "returns" for existing investors, creating a continual cycle of deception.

With the SEC's vigilant oversight and the legal acumen of firms like LKLSG, steps are being taken to peel away the layers of duplicity sprawled out by Agridime. The process is akin to unraveling a tightly wound thread, with each revelation bringing to light the stark reality of investors' misplaced trust in an operation predicated on lies and exploitation.

Echoes of Prior Deception: A Historical Perspective

History is marred with instances of Ponzi schemes, from the infamous case of Charles Ponzi himself to more recent transgressions. The Agridime case joins this notorious lineage, reminding the public and the financial community of the imperative vigilance needed to thwart such fraudulent activities. The SEC's involvement in this case underpins an ongoing narrative of regulatory bodies serving as guardians against financial malevolence.

By studying past schemes and aligning with the SEC's stringent regulations, investors can shield themselves from future deceptions. The Agridime case compels both individual investors and institutions to exercise due diligence, approach investment opportunities with a healthy dose of skepticism, and remain informed about the red flags indicative of a potential Ponzi scheme.

A Call for Enhanced Vigilance in Investing

The unraveling events around the Agridime case serve as a cautionary tale for investors, echoing the necessity for scrupulous investigation into investment ventures. The guarantees of high returns, especially those described as "too good to be true," should trigger a meticulous evaluation of the offering party's financial health, business model, and transparency.

Empowered by knowledge and guided by legal professionals and regulatory bodies like the SEC, investors can navigate the complex terrain of financial investments with greater confidence. The collaboration between vigilant investors, proactive legal entities like LKLSG, and the regulatory might of the SEC forms an essential triad to combat and ultimately prevent the proliferation of investment fraud and Ponzi schemes in the financial ecosystem.


In a landscape tainted by tales of financial fraud, the legal challenge mounted against Agridime LLC underscores the imperative for a collective effort to safeguard market integrity. The SEC's litigation against Joshua Link and Jed Wood, backed by the investigative prowess of LKLSG, paints a picture of justice in motion. Investors who find themselves caught in the undertow of Agridime's alleged scheme now have a path toward potential restitution, heralded by the legal expertise of Levine Kellogg Lehman Schneider + Grossman LLP.

Investors are reminded that the path to recovery is often navigated through the channels of skilled legal representation and regulatory intervention. With the resources and support of firms like LKLSG, individuals affected by schemes such as Agridime's have an advocate in their corner, fighting for rightful compensation and the upholding of justice. As the legal proceedings unfold, the commitment of these entities to the protection of investors and the cleansing of the financial markets remains unwavering.

For more information on Levine Kellogg Lehman Schneider + Grossman LLP and their continued efforts in this case, please visit Here, interested parties can learn more about the firm's services, explore their history of success in litigation, and initiate a confidential consultation. As the SEC and LKLSG press forward, the hope for restitution and the prevention of future Ponzi schemes lives on.