WASHINGTON — Agridime LLC, a Fort Worth, Texas-based cattle company, was ordered to pay almost $103 million following a final judgment and consent order by the US District Court for the Northern District of Texas.

The case was brought by the Commodity Futures Trading Commission (CFTC), which found Agridime was permanently banned from registering with the agency and from soliciting and trading in CFTC markets.

The US Securities and Exchange Commission stated in its 2023 complaint that Agridime raised $191 million from more than 2,100 investors in 15 states, labeling it a Ponzi scheme.

The court order also presented default judgment for Agridime’s co-founders Joshua Link and Jed Wood. Link was ordered to pay more than $815,000 and Wood to pay more than $1.4 million.

Both founders received CFTC complaints in 2024. Agridime previously claimed its funds would be used for the customer’s purchase of cattle.

The court documents and previous complaints said Agridime promised investors 15% to 30% annual return on investments.

According to the Agridime website, the court-appointed receivership had been in talks to sell Agridime and the new company name, American Grazed Beef, to a North Dakota investor group for $15.7 million.

However, a status report in the last few weeks showed the purchaser failed to close on the company’s assets by mid-May.