FOR IMMEDIATE RELEASE
PSC OPENS COMPLAINT AGAINST
SOUTH DAKOTA GRAIN DEALER
Lincoln, October 22, 2021 – The Nebraska Public Service
Commission (PSC) has filed a complaint requiring 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, to cease and desist all
operations as a Grain Dealer in Nebraska.
On September 5, the PSC Grain Department sent the
company a letter stating that a Grain Dealer license is
required for the company to purchase grain from a Nebraska
producer. The letter indicated all grain dealer activity by the
company in Nebraska must cease and information on the
application process was provided. On Sept. 15, the company
filed an incomplete application with the Commission.
A second letter was sent to the company on October 12.
On October 14, the PSC Grain Department was made aware
the company had entered into contracts with Nebraska
producers. A review of the contracts by the PSC determined
the company had purchased various amounts of commodities
from Nebraska producers.
“Despite our best efforts to bring this company into
compliance, Banghart Properties leaves us no choice but to
pursue action against it.” said Commission Chair Dan
Watermeier.
The complaint states Banghart Properties LLC, (and its
various aliases), performed actions as a Grain Dealer in the
State of Nebraska without a valid Grain Dealer License
issued by the Commission in violation of Nebraska Revised
Statute § 75-903 and 291 Nebraska Administrative Code
§ 08-003.01.
Watermeier said, “With harvest season well under way it is
imperative that our producers/sellers are aware of this
company and the fact that it does not hold a license to
conduct grain dealer activity in the State of Nebraska.”
An Order setting a hearing date for Banghart Properties LLC,
will be issued at a later date. Once a hearing is set the
company will be required to show cause as to why it should
not be assessed civil penalties for operating as a Grain Dealer
without a license in the State of Nebraska. ###
Contact:
Deb Collins- Media & Communications Mgr.
(402) 471-0226
