(Bismarck, ND) -- A Cattle Company is receiving a Cease and Desist letter from North Dakota officials.
Joshua Link and Agridime LLC is ordered to cease and desist from the North Dakota Securities Department for the selling unregistered securities, acting as an unregistered broker-dealer, issuer-dealer or agent, and engaging in fraudulent practices. The Texas based company is accused of telling investors they could purchase cattle at $2,000 a head, and could make a "guaranteed 15-20-percent" annual return on a one year investment, and promised higher rates of return if they renewed their investments instead of liquidating them at the end of the contracts. The Securities department says investment contract disclosures from the company were only available to investors after the investments were made, and did not appear to include material risk disclosures about the investments.
The Department of Securities says warning signs of investment fraud include promises of high guaranteed returns over a short time; promises of guaranteed investment buy-back; giving incentives to renew investments instead of liquidating them; high pressure environments; unsubstantiated claims; not providing or are seen fighting against providing documents; and urging for investors to not contact regulators.