Federal authorities have arrested a man accused of orchestrating a massive cattle investment fraud that allegedly cost investors more than $115 million nationwide.
According to the Federal Bureau of Investigation, agents from the FBI Denver Field Office announced that Joshua Robert Link was taken into custody Monday at Los Angeles International Airport.
Investigators say Link and several co-conspirators operated Agridime LLC, a company that marketed cattle contracts to investors across the United States.
Authorities allege the company told buyers it would purchase cattle, raise and feed them until processing, and then sell the beef through its distribution network. The company reportedly promised investors returns ranging from 15% to 32%.
However, federal investigators say the company purchased only a fraction of the cattle it claimed to own, turning the business into what authorities describe as a large-scale fraud.
The alleged scheme affected approximately 2,000 cattle contract buyers and resulted in an estimated $115 million in losses.
According to the FBI, Link has ties to several states connected to the investigation, including Kansas, Missouri, Illinois, Arkansas, Colorado, and Arizona.
A federal arrest warrant for Link was issued on January 29 after he was charged with conspiracy to commit wire fraud. Authorities have not yet released additional details about upcoming court proceedings.
