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Feds call $20 million in meat Agridime’s most valuable asset

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Feds call  million in meat Agridime’s most valuable asset


BISMARCK — A federal agency says a defunct cattle company has about $15 million to $20 million worth of meat to sell while owing $191 million to investors, including $40 million in North Dakota.

The Securities and Exchange Commission updated the Agridime website this week with information on the case that the agency has labeled as a Ponzi scheme.

“We currently estimate that Agridime’s inventory of meat is the company’s single most valuable asset,” the Feb. 27 update says.

It says meat is being sold through a new retail website AmericanGrazedBeef.com.

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“Agridime’s retail meat sales had to be halted when credit card companies no longer wanted to work with Agridime due to the federal court case, which caused a six-week hiatus in our retail operations as we worked to put a new organization and website in place,” the update says.

It notes two farms in Kansas, Morgan Creek Farms and Goracke Farms, as raising the company’s cattle.

The update says investigators are still examining Agridime’s financial records and identifying assets, including livestock. It says the company has about 6,500 head of cattle.

A complaint by the Securities and Exchange Commission alleges that Agridime raised at least $191 million from more than 2,100 investors in at least 15 states. The complaint, which was unsealed in December, says Agridime began using money from new investors to pay off previous investors, fitting the definition of a Ponzi scheme.

The complaint said Agridime sold contracts to investors promising returns of up to 32%. Agridime said investors could reap the benefits of investing in cattle without doing any work.

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About $40 million, more than 20%, of the investments came from North Dakota, according to the state’s Securities Department.

A sales agent for Agridime, Taylor Bang, based in Killdeer in western North Dakota, collected more than $6 million in Agridime commissions selling unsecured investments, the Securities Department said.

North Dakota and Arizona issued a cease-and-desist order and the Securities and Exchange Commission launched an investigation.

The company was incorporated in Texas in 2017, led by Jed Wood of Texas and Josh Link of Arizona.

The complaint said from Dec. 1, 2022, to Sept. 30, 2023, Agridime began using money from new investors — at least $58 million — to pay off previous investors instead of investing in cattle and raising them.

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The SEC update says there are no hearings scheduled in the case, but on Feb. 23, U.S. District Judge Mark Pittman issued an order requiring attorneys for the parties to meet “as soon as practicable” for a scheduling conference. It also requested a report from attorneys in the case, due March 8, including proposals for a timeline and how the case might proceed.

Bang is not named in the federal complaint against Agridime and Bang’s attorney, Brent Edison of the Vogel Law Firm in Fargo, said he is not involved in the federal case.

Bang told the North Dakota Monitor in December that the $6 million figure for Agridime commissions was “way high.”

Edison told the Monitor that Bang, a longtime cattle broker in the Killdeer area, was “similarly situated” as other investors.

This story was originally published on NorthDakotaMonitor.com

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Wheeler-Thomas scores 21 as North Dakota State knocks off Cal State Bakersfield 80-69

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Wheeler-Thomas scores 21 as North Dakota State knocks off Cal State Bakersfield 80-69


BAKERSFIELD, Calif. (AP) — Damari Wheeler-Thomas’ 21 points helped North Dakota State defeat Cal State Bakersfield 80-69 on Thursday.

Wheeler-Thomas had three steals for the Bison (8-3). Markhi Strickland scored 15 points while shooting 6 of 11 from the field and 3 for 6 from the free-throw line and grabbed five rebounds. Andy Stefonowicz went 4 of 7 from the field (3 for 4 from 3-point range) to finish with 13 points.

Ron Jessamy led the way for the Roadrunners (4-7) with 18 points, six rebounds, two steals and four blocks. CJ Hardy added 13 points. Jaden Alexander also recorded eight points and two steals.

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The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.



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Scientists discover ancient river-dwelling mosasaur in North Dakota

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Scientists discover ancient river-dwelling mosasaur in North Dakota


Some 66 million years ago, a city bus-sized terrifying predator prowled a prehistoric river in what is now North Dakota. 

This finding is based on the analysis of a single mosasaur tooth conducted by an international team of researchers from the United States, Sweden, and the Netherlands. 

The tooth came from a prognathodontine mosasaur — a reptile reaching up to 11 meters long. This makes it an apex predator on par with the largest killer whales.

It shows that massive mosasaurs successfully adapted to life in rivers right up until their extinction.

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The mosasaur tooth was found in 2022 in the Bismarck Area, North Dakota. Credit: Melanie During 

Isotope analysis

Dating from 98 to 66 million years ago, abundant mosasaur fossils have been uncovered in marine deposits across North America, Europe, and Africa.

However, these marine reptile fossils have been rarely found in North Dakota before. 

In this new study, the large mosasaur tooth was unearthed in a fluvial deposit (river sediment) in North Dakota. 

Its neighbors in the dirt were just as compelling: a tooth from a Tyrannosaurus rex and a crocodylian jawbone. Interestingly, all these fossilized remains came from a similar age, around 66 million years old. 

This unusual gathering — sea monster, land dinosaur, and river croc — raised an intriguing question: If the mosasaur was a sea creature, how did its remains end up in an inland river?

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The answer lay in the chemistry of the tooth enamel. Using advanced isotope analysis at the Vrije Universiteit in Amsterdam, the team compared the chemical composition of the mosasaur tooth with its neighbors.

The key was the ratio of oxygen isotopes. 

The mosasaur teeth contained a higher proportion of the lighter oxygen isotope than is typical for mosasaurs living in saltwater. This specific isotopic signature, along with the strontium isotope ratio, strongly suggests that the mosasaur lived in a freshwater habitat.

Analysis also revealed that the mosasaur did not dive as deep as many of its marine relatives and may have fed on unusual prey, such as drowned dinosaurs. 

The isotope signatures indicated that this mosasaur had inhabited this freshwater riverine environment. When we looked at two additional mosasaur teeth found nearby, slightly older sites in North Dakota, we saw similar freshwater signatures. These analyses show that mosasaurs lived in riverine environments in the final million years before going extinct,” explained Melanie During, the study author.

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Transformation of the Seaway

The adaptation occurred during the final million years of the Cretaceous period.

It is hypothesized that the mosasaurs were adapting to an enormous environmental shift in the Western Interior Seaway, the vast inland sea that once divided North America.

Increased freshwater influx gradually transformed the ancient sea from saltwater to brackish water, and finally to mostly freshwater, similar to the modern Gulf of Bothnia. 

The researchers hypothesize that this change led to the formation of a halocline: a structure where a lighter layer of freshwater rested atop heavier saltwater. The findings of the isotope analyses directly support this theory.

The analyzed mosasaur teeth belong to individuals who successfully adapted to the shifting environments. 

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This transition from marine to freshwater habitats (reverse adaptation) is considered less complex than the opposite shift and is not unique among large predators. 

Modern parallels include river dolphins, which evolved from marine ancestors but now thrive in freshwater, and the estuarine crocodile, which moves freely between freshwater rivers and the open sea for hunting.

Findings were published in the journal BMC Zoology on December 11.



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North Dakota highway rollover crash caught on camera

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North Dakota highway rollover crash caught on camera


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North Dakota highway rollover crash caught on camera



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