2025-09-30 sec-litreleases judgment 206 KB 13,768 chars

SEC v. Joshua Link, No. 4:23-cv-01224, Northern District of Texas (Sept. 30, 2025) — Judgment

raw: Before the Court is Motion for Monetary Remedies and Entry of Final

Before the Court is Motion for Monetary Remedies and Entry of Final, No. 4:23-cv-01224 (Sept. 30, 2025)

Caption
Securities and Exchange Commission v. Agridime LLC
summary

The SEC obtained a final judgment against Joshua Link for violating federal securities laws through fraudulent schemes, resulting in a permanent injunction and a $6.9 million monetary penalty.

paragraph

The court entered a final judgment against Joshua Link for violations of the Securities Act of 1933 and the Exchange Act of 1934. Link was ordered to pay a total of $6,907,166.05, which includes $3,106,957.09 in disgorgement, $693,251.87 in prejudgment interest, and a $3,106,957.09 civil penalty. The judgment also permanently enjoins him from future violations of the Exchange Act and the Securities Act.

narrative

The U.S. Securities and Exchange Commission obtained a final judgment against Joshua Link in the Northern District of Texas for violating federal securities laws. The court found Link liable for fraudulent conduct involving the offer and sale of securities, specifically violating Section 10(b) of the Exchange Act and Section 17(a) of the Securities Act. As part of the resolution, Link is permanently enjoined from future violations of these acts and is prohibited from serving as an officer or director of any reporting company. The financial terms of the judgment require Link to pay $6,907,166.05, consisting of $3,106,957.09 in disgorgement, $693,251.87 in prejudiment interest, and a $3,106,957.09 civil penalty. The court also established that the resulting debts are non-dischargeable in bankruptcy. This final judgment concludes the proceedings regarding Link's involvement in the fraudulent activities of Agridime LLC and related entities.

Enriched metadata

Scheme
unregistered-securities (90%)
Court
Northern District of Texas
Case No.
4:23-cv-01224
Disgorgement
$3,106,957
Civil penalty
$3,106,957
Classified unregistered-securities(confidence 90%). EDGAR detection: forms Form D/S-1· recall 41% / precision 30%. detection rule →
Statutes
15 U.S.C. § 78j(b)15 U.S.C. § 77q(a)15 U.S.C. § 77e15 U.S.C. § 77h15 U.S.C. § 77t(b)15 U.S.C. § 78u(d)15 U.S.C. § 77t(e)15 U.S.C. § 78l15 U.S.C. § 78o(d)15 U.S.C. § 77t(d)28 U.S.C. § 196128 U.S.C. § 300111 U.S.C. §52311 U.S.C. §523(a)17 C.F.R. § 240.10b-5Section 10(b) of the Securities Exchange ActSection 17(a) of the Securities ActSection 5 of the Securities ActSection 8 of the Securities ActSection 20(b) of the Securities ActSection 20(e) of the Securities ActSection 20(d) of the Securities ActRule 10b-5
Parties
Securities and Exchange CommissionAgridime LLCLance LentonCattle Empire LLCJoshua LinkMario OstFrost BankSCRS Fort Worth Industrial LLCRobert ShaneADR ProviderLonnie JaegerJed WoodBrookover Feed Yards, Inc.
Keywords
finalordered adjudgedadjudged decreedfurther orderedsecuritiesshallorderedentry finalfurthercivilcommissionactionordersecurities exchangedocument page

Extracted insights

Dollar amounts 3
  • $6.91M $6,907,166 $1M–$10M
  • $3.11M $3,106,957 $1M–$10M
  • $693K $693,251 $100K–$1M
Entities 2
  • person joshua link
  • agency United States Securities And Exchange Commission
Triples 6
  • United States Securities And Exchange Commission filed motion for monetary remedies and entry of final judgment against Joshua Link
  • Court entered final judgment against Joshua Link
  • Court restrained and enjoined Joshua Link from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
  • Court restrained and enjoined Joshua Link from violating Section 17(a) of the Securities Act of 1933
  • Joshua Link violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
  • Joshua Link violated Section 17(a) of the Securities Act of 1933
Text layers
Extracted body text (13,768c)
UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF TEXAS
FORT WORTH DIVISION
UNITED STATES SECURITIES
AND EXCHANGE COMMISSION,
Plaintiff,
v. No. 4:23-cv-01224-P
AGRIDIME LLC, E T   AL.,
Defendants.
FINAL JUDGMENT AS TO DEFENDANT JOSHUA LINK
Before the Court is Motion for Monetary Remedies and Entry of Final
Judgment  as  to  Defendant  Joshua  Link.  ECF  No.  176.  The  Court  has
entered    an    Agreed    Judgment    as    to    Defendant    Joshua    Link
(“Defendant”)   [Doc.   92]   and   has   granted   Plaintiff   Securities   and
Exchange Commission’s (“Commission”) Motion for Monetary Remedies
and Entry of Final Judgment as to Joshua Link.  Based on all the files,
records, and proceedings in this action, the Court enters Final Judgment
as to Defendant as follows:
I.
 It Is Hereby Ordered, Adjudged, And Decreed that Defendant is
permanently   restrained   and   enjoined   from   violating,   directly   or
indirectly,  Section  10(b)  of  the  Securities  Exchange  Act  of  1934  (the
“Exchange  Act”)  [15  U.S.C.  §  78j(b)]  and  Rule  10b-5  promulgated
thereunder    [17 C.F.R.    § 240.10b-5],    by    using    any    means    or
instrumentality of interstate commerce, or of the mails, or of any facility
of any national securities exchange, in connection with the purchase or
sale of any security:
(a)to employ any device, scheme, or artifice to defraud;
(b)to make any untrue statement of a material fact or to omit to state
a material fact necessary in order to make the statements made, in the

2

light of the circumstances under which they were made, not misleading;
or
(c)   to  engage  in  any  act,  practice,  or  course  of  business  which
operates or would   operate as a fraud or deceit upon any person.
 IT  IS  FURTHER  ORDERED,  Adjudged,  And  Decreed  that,  as
provided  in  Federal  Rule  of  Civil  Procedure  65(d)(2),  the  foregoing
paragraph  also  binds  the  following  who  receive  actual  notice  of  this
Final  Judgment  by  personal  service  or  otherwise:    (a)  Defendant’s
officers,  agents,  servants,  employees,  and  attorneys;  and  (b)  other
persons in active concert or participation with Defendant or with anyone
described in (a).
II.
 It  Is  HEREBY  Further  Ordered,  Adjudged,  And  Decreed  that
Defendant  is  permanently  restrained  and  enjoined  from  violating
Section  17(a)  of  the  Securities  Act  of  1933  (the  “Securities  Act”)  [15
U.S.C.  §  77q(a)]  in  the  offer  or  sale  of  any  security  by  the  use  of  any
means or instruments of transportation or communication in interstate
commerce or by use of the mails, directly or indirectly:
(a) to employ any device, scheme, or artifice to defraud;
(b) to obtain money or property by means of any untrue statement of
a material fact or any omission of a material fact necessary in order to
make  the  statements  made,  in  light  of  the  circumstances  under  which
they were made, not misleading; or
(c)   to engage in any transaction, practice, or course of business which
operates or would operate as a fraud or deceit upon the purchaser.
 IT  IS  FURTHER  ORDERED,  Adjudged,  And  Decreed  that,  as
provided  in  Federal  Rule  of  Civil  Procedure  65(d)(2),  the  foregoing
paragraph  also  binds  the  following  who  receive  actual  notice  of  this
Final  Judgment  by  personal  service  or  otherwise:    (a)  Defendant’s
officers,  agents,  servants,  employees,  and  attorneys;  and  (b)  other
persons in active concert or participation with Defendant or with anyone
described in (a).
III.

3

IT   IS   HEREBY   FURTHER   ORDERED,   ADJUDGED,   AND
DECREED that Defendant is permanently restrained and enjoined from
violating Section 5 of the Securities Act [15 U.S.C. § 77e] by, directly or
indirectly, in the absence of any applicable exemption:
(a)  Unless  a  registration  statement  is  in  effect  as  to  a  security,
making   use   of   any   means   or   instruments   of   transportation   or
communication  in  interstate  commerce  or  of  the  mails  to  sell  such
security through the use or medium of any prospectus or otherwise;
(b)  Unless  a  registration  statement  is  in  effect  as  to  a  security,
carrying  or  causing  to  be  carried  through  the  mails  or  in  interstate
commerce,  by  any  means  or  instruments  of  transportation,  any  such
security for the purpose of sale or for delivery after sale; or
(c)  Making  use  of  any  means  or  instruments  of  transportation  or
communication in interstate commerce or of the mails to offer to sell or
offer to buy through the use or medium of any prospectus or otherwise
any  security,  unless  a  registration  statement  has  been  filed  with  the
Commission as to such security, or while the registration statement is
the subject of a refusal order or stop order or (prior to the effective date
of  the  registration  statement)  any  public  proceeding  or  examination
under Section 8 of the Securities Act [15 U.S.C. § 77h].
 IT  IS  FURTHER  ORDERED,  ADJUDGED,  AND  DECREED
that,  as  provided  in  Federal  Rule  of  Civil  Procedure  65(d)(2),  the
foregoing paragraph also binds the following who receive actual notice
of this Final Judgment by personal service or otherwise: (a) Defendant’s
officers,  agents,  servants,  employees,  and  attorneys;  and  (b)  other
persons in active concert or participation with Defendant or with anyone
described in (a).
IV.
IT  IS  FURTHER  ORDERED,  ADJUDGED,  AND  DECREED  that
pursuant to Section 21(d)(1) and 21(d)(5) of the Exchange Act [15 U.S.C.
§§ 78u(d)(1) and (5)] and Section 20(b) of the Securities Act [15 U.S.C. §
77t(b)],, Defendant is permanently restrained and enjoined from directly
or indirectly, including, but not limited to, through any entity he owns
or controls, participating in the issuance, offer, purchase, or sale of any

4

security,  provided,  however,  that  such  injunctions  shall  not  prevent
Defendant  from  purchasing  or  selling  securities  for  his  own  personal
accounts.
 IT  IS  FURTHER  ORDERED,  ADJUDGED,  AND  DECREED
that,  as  provided  in  Federal  Rule  of  Civil  Procedure  65(d)(2),  the
foregoing paragraph also binds the following who receive actual notice
of this Final Judgment by personal service or otherwise: (a) Defendant’s
officers,  agents,  servants,  employees,  and  attorneys;  and  (b)  other
persons in active concert or participation with Defendant or with anyone
described in (a).
V.
 IT  IS  FURTHER  ORDERED,  ADJUDGED,  AND  DECREED
that,  pursuant  to  Section  21(d)(2)  of  the  Exchange  Act  [15  U.S.C.  §
78u(d)(2)]  and  Section  20(e)  of  the  Securities  Act  [15  U.S.C.  §  77t(e)],
Defendant is prohibited from acting as an officer or director of any issuer
that  has  a  class  of  securities  registered  pursuant  to  Section  12  of  the
Exchange  Act  [15  U.S.C.  §  78l]  or  that  is  required  to  file  reports
pursuant to Section 15(d) of the Exchange Act [15 U.S.C. § 78o(d)].
VI.
IT   IS   HEREBY   FURTHER   ORDERED,   ADJUDGED,   AND
DECREED that Defendant is liable for disgorgement of $3,106,957.09,
representing  profits  gained  as  a  result  of  the  conduct  alleged  in  the
Complaint,  together  with  prejudgment  interest  thereon  in  the  amount
of  $693,251.87,  and  a  civil  penalty  in  the  amount  of  $3,106,957.09
pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and
Section 21(d)(3) of the Exchange Act [15 U.S.C. § 78u(d)(3)].   Defendant
shall  satisfy  this  obligation  by  paying  $6,907,166.05  to  the  Securities
and  Exchange  Commission  within  30  days  after  entry  of  this  Final
Judgment.
Defendant may transmit payment electronically to the Commission,
which  will  provide  detailed  ACH  transfer/Fedwire  instructions  upon
request.   Payment may also be made directly from a bank account via
Pay.gov             through             the             SEC             website             at
http://www.sec.gov/about/offices/ofm.htm.    Defendant  may  also  pay  by

5

certified  check,  bank  cashier’s  check,  or  United  States  postal  money
order payable to the Securities and Exchange Commission, which shall
be delivered or mailed to
Enterprise Services Center
Accounts Receivable Branch
6500 South MacArthur Boulevard
Oklahoma City, OK 73169
and shall be accompanied by a letter identifying the case title, civil
action  number,  and  name  of  this  Court;  Joshua  Link  as  defendant  in
this action; and specifying that payment is made pursuant to this Final
Judgment.
Defendant shall simultaneously transmit photocopies of evidence of
payment and case-identifying information to the Commission’s counsel
in this action.  By making this payment, Defendant relinquishes all legal
and equitable right, title, and interest in such funds and no part of the
funds  shall  be  returned  to  Defendant.   Defendant   shall   pay   post
judgment interest on any delinquent amounts pursuant to 28 U.S.C. §
1961.
The Commission may enforce the Court’s judgment for disgorgement
and prejudgment interest by using all collection procedures authorized
by  law,  including,  but  not  limited  to,  moving  for  civil  contempt  at  any
time after 30 days following entry of this Final Judgment.  Defendant
shall pay post judgment interest on any amounts due after 30 days of
entry of this Final Judgment pursuant to 28 U.S.C. § 1961.
The Commission may enforce the Court’s judgment for penalties by
the  use  of  all  collection  procedures  authorized  by  law,  including  the
Federal  Debt  Collection  Procedures  Act,  28  U.S.C.  §  3001  et  seq.,  and
moving for civil contempt for the violation of any Court orders issued in
this action. Defendant shall pay post judgment interest on any amounts
due  after  30  days  of  the  entry  of  this  Final  Judgment  pursuant  to  28
U.S.C. § 1961. The Commission shall hold the funds, together with any
interest and income earned thereon (collectively, the “Fund”), pending
further order of the Court.

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The Commission may propose a plan to distribute the Fund subject
to the Court’s approval.  Such a plan may provide that the Fund shall
be distributed pursuant to the Fair Fund provisions of Section 308(a) of
the Sarbanes-Oxley Act of 2002.  The Court shall retain jurisdiction over
the  administration  of  any  distribution  of  the  Fund  and  the  Fund  may
only be disbursed pursuant to an Order of the Court.
Regardless  of  whether  any  such  Fair  Fund  distribution  is  made,
amounts  ordered  to  be  paid  as  civil  penalties  pursuant  to  this  Final
Judgment shall be treated as penalties paid to the government for all
purposes, including all tax purposes.  To preserve the deterrent effect of
the  civil  penalty,  Defendant  shall  not,  after  offset  or  reduction  of  any
award of compensatory damages in any Related Investor Action based
on Defendant’s payment of disgorgement in this action, argue that he is
entitled  to,  nor  shall  he  further  benefit  by,  offset  or  reduction  of  such
compensatory damages award by the amount of any part of Defendant’s
payment of a civil penalty in this action (“Penalty Offset”).  If the court
in any Related Investor Action grants such a Penalty Offset, Defendant
shall,  within  30  days  after  entry  of  a  final  order  granting  the  Penalty
Offset,  notify  the  Commission’s  counsel  in  this  action  and  pay  the
amount of the Penalty Offset to the United States Treasury or to a Fair
Fund, as the Commission directs.  Such a payment shall not be deemed
an  additional  civil  penalty  and  shall  not  be  deemed  to  change  the
amount  of  the  civil  penalty  imposed  in  this  Final  Judgment.    For
purposes of this paragraph, a “Related Investor Action” means a private
damages  action  brought  against  a  Defendant  or  Defendants  by  or  on
behalf of one or more investors based on substantially the same facts as
alleged in the Complaint in this action.
VII.
IT  IS  FURTHER  ORDERED,  ADJUDGED,  AND  DECREED  that,
solely for purposes of exceptions to discharge set forth in Section 523 of
the Bankruptcy Code, 11 U.S.C. §523, the allegations in the Complaint
are   true   and   admitted   by   Defendant,   and   further,   any   debt   for
disgorgement, prejudgment interest, civil penalty or other amounts due
by Defendant under this Final Judgment or any other judgment, order,
consent  order,  decree  or  settlement  agreement  entered  in  connection

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with  this  proceeding,  is  a  debt  for  the  violation  by  Defendant  of  the
federal  securities  laws  or  any  regulation  or  order  issued  under  such
laws,  as  set  forth  in  Section  523(a)(19)  of  the  Bankruptcy  Code,  11
U.S.C. §523(a)(19).
VIII.
 It  Is  Further  Ordered,  Adjudged,  And  Decreed  that  this  Court
shall retain jurisdiction of this matter for the purposes of enforcing the
terms of this Final Judgment.
IX.
In accordance with this Court’s order, and there being no just reason
for delay, pursuant to Rule 54(b) of the Federal Rules of Civil Procedure,
the  Clerk  is  ORDERED  to  enter  this  Final  Judgment  forthwith  and
without further notice.
SO ORDERED on this 19th day of September 2025.
UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF TEXAS
FORT WORTH DIVISION
REGINALEA KEMP,
Plaintiff,
v. No. 4:23-cv-00841-P
REGIONSBANKET AL.,
Defendants.
ORDER
Before  the  Court  is  Plaintiff’s  Unopposed Motion  for Leave  to  File
Second Amended Complaint. ECF No. 18. Having considered the Motion
and applicable docket entries, the Court GRANTS the Motion.
SO ORDERED on this 18th day of September 2023.
______________________________________________
Mark T. Pittman
UNITED STATES DISTRICT JUDGE
OCR text (13,828c · tika · 95% conf)
UNITED STATES DISTRICT COURT 
FOR THE NORTHERN DISTRICT OF TEXAS 

FORT WORTH DIVISION 

UNITED STATES SECURITIES 
AND EXCHANGE COMMISSION, 

Plaintiff, 

v. No. 4:23-cv-01224-P 

AGRIDIME LLC, ET AL., 

Defendants. 
FINAL JUDGMENT AS TO DEFENDANT JOSHUA LINK 

Before the Court is Motion for Monetary Remedies and Entry of Final 
Judgment as to Defendant Joshua Link. ECF No. 176. The Court has 
entered an Agreed Judgment as to Defendant Joshua Link 
(“Defendant”) [Doc. 92] and has granted Plaintiff Securities and 
Exchange Commission’s (“Commission”) Motion for Monetary Remedies 
and Entry of Final Judgment as to Joshua Link.  Based on all the files, 
records, and proceedings in this action, the Court enters Final Judgment 
as to Defendant as follows: 

I. 

 It Is Hereby Ordered, Adjudged, And Decreed that Defendant is 
permanently restrained and enjoined from violating, directly or 
indirectly, Section 10(b) of the Securities Exchange Act of 1934 (the 
“Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 promulgated 
thereunder [17 C.F.R. § 240.10b-5], by using any means or 
instrumentality of interstate commerce, or of the mails, or of any facility 
of any national securities exchange, in connection with the purchase or 
sale of any security: 

(a) to employ any device, scheme, or artifice to defraud;

(b) to make any untrue statement of a material fact or to omit to state
a material fact necessary in order to make the statements made, in the 

Case 4:23-cv-01224-P     Document 186     Filed 09/19/25      Page 1 of 7     PageID 5556



2 
 

light of the circumstances under which they were made, not misleading; 
or 

(c) to engage in any act, practice, or course of business which 
operates or would  operate as a fraud or deceit upon any person. 

 IT IS FURTHER ORDERED, Adjudged, And Decreed that, as 
provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing 
paragraph also binds the following who receive actual notice of this 
Final Judgment by personal service or otherwise:  (a) Defendant’s 
officers, agents, servants, employees, and attorneys; and (b) other 
persons in active concert or participation with Defendant or with anyone 
described in (a). 

II. 

 It Is HEREBY Further Ordered, Adjudged, And Decreed that 
Defendant is permanently restrained and enjoined from violating 
Section 17(a) of the Securities Act of 1933 (the “Securities Act”) [15 
U.S.C. § 77q(a)] in the offer or sale of any security by the use of any 
means or instruments of transportation or communication in interstate 
commerce or by use of the mails, directly or indirectly: 

(a) to employ any device, scheme, or artifice to defraud; 

(b) to obtain money or property by means of any untrue statement of 
a material fact or any omission of a material fact necessary in order to 
make the statements made, in light of the circumstances under which 
they were made, not misleading; or 

(c) to engage in any transaction, practice, or course of business which 
operates or would operate as a fraud or deceit upon the purchaser. 

 IT IS FURTHER ORDERED, Adjudged, And Decreed that, as 
provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing 
paragraph also binds the following who receive actual notice of this 
Final Judgment by personal service or otherwise:  (a) Defendant’s 
officers, agents, servants, employees, and attorneys; and (b) other 
persons in active concert or participation with Defendant or with anyone 
described in (a). 

III. 

Case 4:23-cv-01224-P     Document 186     Filed 09/19/25      Page 2 of 7     PageID 5557



3 
 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND 
DECREED that Defendant is permanently restrained and enjoined from 
violating Section 5 of the Securities Act [15 U.S.C. § 77e] by, directly or 
indirectly, in the absence of any applicable exemption:  

(a) Unless a registration statement is in effect as to a security, 
making use of any means or instruments of transportation or 
communication in interstate commerce or of the mails to sell such 
security through the use or medium of any prospectus or otherwise;  

(b) Unless a registration statement is in effect as to a security, 
carrying or causing to be carried through the mails or in interstate 
commerce, by any means or instruments of transportation, any such 
security for the purpose of sale or for delivery after sale; or  

(c)  Making use of any means or instruments of transportation or 
communication in interstate commerce or of the mails to offer to sell or 
offer to buy through the use or medium of any prospectus or otherwise 
any security, unless a registration statement has been filed with the 
Commission as to such security, or while the registration statement is 
the subject of a refusal order or stop order or (prior to the effective date 
of the registration statement) any public proceeding or examination 
under Section 8 of the Securities Act [15 U.S.C. § 77h].  

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED 
that, as provided in Federal Rule of Civil Procedure 65(d)(2), the 
foregoing paragraph also binds the following who receive actual notice 
of this Final Judgment by personal service or otherwise: (a) Defendant’s 
officers, agents, servants, employees, and attorneys; and (b) other 
persons in active concert or participation with Defendant or with anyone 
described in (a). 

IV. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 
pursuant to Section 21(d)(1) and 21(d)(5) of the Exchange Act [15 U.S.C. 
§§ 78u(d)(1) and (5)] and Section 20(b) of the Securities Act [15 U.S.C. § 
77t(b)],, Defendant is permanently restrained and enjoined from directly 
or indirectly, including, but not limited to, through any entity he owns 
or controls, participating in the issuance, offer, purchase, or sale of any 

Case 4:23-cv-01224-P     Document 186     Filed 09/19/25      Page 3 of 7     PageID 5558



4 
 

security, provided, however, that such injunctions shall not prevent 
Defendant from purchasing or selling securities for his own personal 
accounts.  

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED 
that, as provided in Federal Rule of Civil Procedure 65(d)(2), the 
foregoing paragraph also binds the following who receive actual notice 
of this Final Judgment by personal service or otherwise: (a) Defendant’s 
officers, agents, servants, employees, and attorneys; and (b) other 
persons in active concert or participation with Defendant or with anyone 
described in (a). 

V. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED 
that, pursuant to Section 21(d)(2) of the Exchange Act [15 U.S.C. § 
78u(d)(2)] and Section 20(e) of the Securities Act [15 U.S.C. § 77t(e)], 
Defendant is prohibited from acting as an officer or director of any issuer 
that has a class of securities registered pursuant to Section 12 of the 
Exchange Act [15 U.S.C. § 78l] or that is required to file reports 
pursuant to Section 15(d) of the Exchange Act [15 U.S.C. § 78o(d)]. 

VI. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND 
DECREED that Defendant is liable for disgorgement of $3,106,957.09, 
representing profits gained as a result of the conduct alleged in the 
Complaint, together with prejudgment interest thereon in the amount 
of $693,251.87, and a civil penalty in the amount of $3,106,957.09 
pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and 
Section 21(d)(3) of the Exchange Act [15 U.S.C. § 78u(d)(3)].   Defendant 
shall satisfy this obligation by paying $6,907,166.05 to the Securities 
and Exchange Commission within 30 days after entry of this Final 
Judgment. 

Defendant may transmit payment electronically to the Commission, 
which will provide detailed ACH transfer/Fedwire instructions upon 
request.   Payment may also be made directly from a bank account via 
Pay.gov through the SEC website at 
http://www.sec.gov/about/offices/ofm.htm.  Defendant may also pay by 

Case 4:23-cv-01224-P     Document 186     Filed 09/19/25      Page 4 of 7     PageID 5559



5 
 

certified check, bank cashier’s check, or United States postal money 
order payable to the Securities and Exchange Commission, which shall 
be delivered or mailed to  

Enterprise Services Center 

Accounts Receivable Branch 

6500 South MacArthur Boulevard 

Oklahoma City, OK 73169 

and shall be accompanied by a letter identifying the case title, civil 
action number, and name of this Court; Joshua Link as defendant in 
this action; and specifying that payment is made pursuant to this Final 
Judgment.   

Defendant shall simultaneously transmit photocopies of evidence of 
payment and case-identifying information to the Commission’s counsel 
in this action.  By making this payment, Defendant relinquishes all legal 
and equitable right, title, and interest in such funds and no part of the 
funds shall be returned to Defendant. Defendant shall pay post 
judgment interest on any delinquent amounts pursuant to 28 U.S.C. § 
1961.   

The Commission may enforce the Court’s judgment for disgorgement 
and prejudgment interest by using all collection procedures authorized 
by law, including, but not limited to, moving for civil contempt at any 
time after 30 days following entry of this Final Judgment.  Defendant 
shall pay post judgment interest on any amounts due after 30 days of 
entry of this Final Judgment pursuant to 28 U.S.C. § 1961.       

The Commission may enforce the Court’s judgment for penalties by 
the use of all collection procedures authorized by law, including the 
Federal Debt Collection Procedures Act, 28 U.S.C. § 3001 et seq., and 
moving for civil contempt for the violation of any Court orders issued in 
this action. Defendant shall pay post judgment interest on any amounts 
due after 30 days of the entry of this Final Judgment pursuant to 28 
U.S.C. § 1961. The Commission shall hold the funds, together with any 
interest and income earned thereon (collectively, the “Fund”), pending 
further order of the Court. 

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6 
 

The Commission may propose a plan to distribute the Fund subject 
to the Court’s approval.  Such a plan may provide that the Fund shall 
be distributed pursuant to the Fair Fund provisions of Section 308(a) of 
the Sarbanes-Oxley Act of 2002.  The Court shall retain jurisdiction over 
the administration of any distribution of the Fund and the Fund may 
only be disbursed pursuant to an Order of the Court.  

Regardless of whether any such Fair Fund distribution is made, 
amounts ordered to be paid as civil penalties pursuant to this Final 
Judgment shall be treated as penalties paid to the government for all 
purposes, including all tax purposes.  To preserve the deterrent effect of 
the civil penalty, Defendant shall not, after offset or reduction of any 
award of compensatory damages in any Related Investor Action based 
on Defendant’s payment of disgorgement in this action, argue that he is 
entitled to, nor shall he further benefit by, offset or reduction of such 
compensatory damages award by the amount of any part of Defendant’s 
payment of a civil penalty in this action (“Penalty Offset”).  If the court 
in any Related Investor Action grants such a Penalty Offset, Defendant 
shall, within 30 days after entry of a final order granting the Penalty 
Offset, notify the Commission’s counsel in this action and pay the 
amount of the Penalty Offset to the United States Treasury or to a Fair 
Fund, as the Commission directs.  Such a payment shall not be deemed 
an additional civil penalty and shall not be deemed to change the 
amount of the civil penalty imposed in this Final Judgment.  For 
purposes of this paragraph, a “Related Investor Action” means a private 
damages action brought against a Defendant or Defendants by or on 
behalf of one or more investors based on substantially the same facts as 
alleged in the Complaint in this action. 

VII. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, 
solely for purposes of exceptions to discharge set forth in Section 523 of 
the Bankruptcy Code, 11 U.S.C. §523, the allegations in the Complaint 
are true and admitted by Defendant, and further, any debt for 
disgorgement, prejudgment interest, civil penalty or other amounts due 
by Defendant under this Final Judgment or any other judgment, order, 
consent order, decree or settlement agreement entered in connection 

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7 
 

with this proceeding, is a debt for the violation by Defendant of the 
federal securities laws or any regulation or order issued under such 
laws, as set forth in Section 523(a)(19) of the Bankruptcy Code, 11 
U.S.C. §523(a)(19). 

VIII. 

 It Is Further Ordered, Adjudged, And Decreed that this Court 
shall retain jurisdiction of this matter for the purposes of enforcing the 
terms of this Final Judgment. 

IX. 

In accordance with this Court’s order, and there being no just reason 
for delay, pursuant to Rule 54(b) of the Federal Rules of Civil Procedure, 
the Clerk is ORDERED to enter this Final Judgment forthwith and 
without further notice. 

SO ORDERED on this 19th day of September 2025. 

UNITED STATES DISTRICT COURT 
FOR THE NORTHERN DISTRICT OF TEXAS 

FORT WORTH DIVISION 

REGINALEA KEMP, 

Plaintiff, 

v. No. 4:23-cv-00841-P 

REGIONS BANK ET AL.,

Defendants. 
ORDER 

Before the Court is Plaintiff’s Unopposed Motion for Leave to File 
Second Amended Complaint. ECF No. 18. Having considered the Motion 
and applicable docket entries, the Court GRANTS the Motion.

SO ORDERED on this 18th day of September 2023.

______________________________________________ 
Mark T. Pittman 
UNITED STATES DISTRICT JUDGE 

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