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A federal grand jury in Texas has indicted a Killdeer man and four others for their alleged roles in a massive $220 million cattle Ponzi scheme that has left deep financial scars across western North Dakota, according to reporting by the North Dakota Monitor.
Taylor Bang, who served as a cattle broker for the Fort Worth-based company Agridime, is accused of participating in a three-year fraud that victimized over 2,200 investors nationwide. North Dakota was the “epicenter” of the company’s collapse, with local investors alone owed an estimated $40 million.
Prosecutors allege that from 2021 to 2023, Agridime promised up to 30% returns on investments in cattle. In reality, the company operated as a classic Ponzi scheme, using funds from new investors to pay off earlier ones while misappropriating millions for personal expenses and real estate.
The Monitor reports Bang and three other defendants have appeared in court, but a fifth individual, Joshua Link, remains at large and is now on the FBI’s Wanted List, as they allege he was a primary architect of the fraud.
Taylor Bang has pleaded not guilty and was released under pretrial supervision. A jury trial is currently set for March 23.
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