PSC Opens Complaint Against South Dakota Grain Dealer
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. ###
Deb Collins- Media & Communications Mgr.