INVESTOR ALERT: LKLSG Investigating Potential Lawsuit Relating to Alleged $190 Million Ponzi Scheme by Jed Wood, Joshua Link, and Agridime LLC

MIAMI , March 8, 2024 /PRNewswire/ -- In a recently filed enforcement lawsuit, the Securities and Exchange Commission ("SEC") alleges that Joshua Link and Jed Wood, through their Texas-based company, Agridime LLC ("Agridime"), perpetrated a $190 million Ponzi Scheme against more than 2,100 unwitting investors. 

The SEC alleges that Agridime raised tens of millions of dollars from ordinary investors by offering "cattle contracts."  Link and Wood allegedly told investors that their money would be used to "purchase, feed, and process cattle" and that after a year, investors would be repaid with guaranteed returns ranging from 15% to 32%. Link and Wood even boasted that these returns were, "too good to be true."

The investment was, indeed, too good to be true: in reality, the SEC alleges, Agridime was operating a classic Ponzi scheme, paying old investors with new investors' money.  From December 1, 2022, to September 30, 2023, Agridime has used at least $58 million of incoming investor funds to pay "returns" to previous investors in the form of Ponzi payments.  To make matters worse, Agridime further misappropriated investor funds by using an additional $11 million to pay its salespeople, including Link and Wood, undisclosed commissions for each cattle contract they sold.  According to the SEC, as of September 2023, Agridime owes investors approximately $147 million in the form of unpaid cattle contracts.

The law firm of Levine Kellogg Lehman Schneider + Grossman LLP ("LKLSG") in Miami is investigating potential legal action designed to help victims of the Agridime scam.  If you purchased a cattle contract with Agridime, please contact attorney Jason Kellogg at the information above.  LKLSG represents clients nationwide.

Attorney Advertising.  The law firm responsible for this advertisement is Levine Kellogg Lehman Schneider + Grossman LLP (www.lklsg.com).  Prior results do not guarantee or predict similar outcomes with respect to future matters.  Opportunities to discuss your particular case are welcomed.  All communications are treated confidentially.

About Levine Kellogg Lehman Schneider + Grossman LLP
LKLSG is a Miami-based commercial law firm providing focused, efficient, and hands-on representation in high-stakes legal proceedings including complex commercial litigation, class actions, bankruptcy and receiverships, lender/borrower litigation and workouts and labor and employment litigation.

CONTACT:
Jason Kellogg, Esq.
[email protected]
P: 786.673.3029

SOURCE Levine Kellogg Lehman Schneider + Grossman