The Commodity Futures Trading Commission announced that the US District Court for the Northern District of Texas entered a final judgment and consent order against Agridime LLC, a Texas firm now in receivership, imposing a permanent injunction and ordering USD 102,936,904 in restitution. The order also permanently bans Agridime from registering with the CFTC and from soliciting and trading in any CFTC-regulated markets. The consent order provides that the restitution obligation will be satisfied through the collection efforts and distributions made by the receiver appointed in a parallel Securities and Exchange Commission action. The court also entered default judgments against co-founders Joshua Link and Jed Wood, ordering disgorgement of USD 815,327.92 and USD 1,472,127.92 respectively, with payments (and any post-judgment interest) to be made to the receiver for distribution to defrauded customers; both individuals were permanently enjoined from further violations and were subject to trading and registration bans. The case stems from the CFTC’s May 2024 complaint alleging a Ponzi-like fraud tied to cattle purchase contracts, including the use of new customer funds to pay earlier customers and the payment of undisclosed commissions.

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