FOR IMMEDIATE RELEASE
PSC ISSUES ORDER ASSESSING CIVIL PENALTY IN
SOUTH DAKOTA GRAIN DEALER COMPLAINT
Lincoln, March 15, 2022 – The Nebraska Public Service
Commission (PSC) has issued an Order (GDC-446) finding
Banghart Properties, LLC, a.k.a. Fearless Grain Marketing
Storage & Arbitrage, a.k.a. Fearless Grain Marketing, a.k.a.
Fearless Grain of Gettysburg, South Dakota operated as a
grain dealer in Nebraska without a license and assessed a
civil penalty of $290,000.
“This company’s flagrant violation of Nebraska law along with
its unwillingness to comply led to the conclusion that this civil
penalty is warranted,” said Commission Chair Dan Watermeier.
In October 2021, the Commission filed a complaint against
Banghart Properties LLC, (and its various aliases), alleging
numerous violations of the Nebraska Grain Dealer Act including
operating as a grain dealer without a license (Nebraska Revised
Statute §75-903 and 291 Nebraska Administrative Code
§08-003.01.0) and violating regulatory requirements for
documenting grain purchases and transactions.
A hearing on the complaint was held on January 5, 2022. Upon
consideration of the evidence presented to the Commission, it
finds the civil penalty (Nebraska Revised Statute § 75-156 ),
totaling $290,000 is appropriate.
Commissioner Watermeier said, “The Order speaks for itself, we
find it in the public good and we take our responsibility to protect
Nebraska producers/sellers seriously.”
The Company has 30 days in which to appeal the Commission’s
Deb Collins- Media & Communications Mgr.