AMS issues a complaint to Nebraska’s Troy Siebels for not paying auctions for livestock purchases
WASHINGTON — On June 26, 2018, the U.S. Department of Agriculture, Agriculture Marketing Services filed an administrative complaint against S & S Buying, Inc. and Troy Siebels, Stamford, Neb., for alleged violations of the Packers and Stockyards Act.
The complaint alleges that during the period from March 24, 2017, through June 6, 2017, Siebels engaged in business as a dealer buying and selling livestock in commerce by purchasing 408 head of livestock from four different livestock auctions for a total purchase price of $325,144, but failed to pay when due, the full purchase of livestock. The complaint also alleges that Siebels failed to pay for livestock purchases within the time required by the act in eight transactions involving his purchase of 445 head of livestock from two different livestock auctions for a total price of $492,133. The complaint further alleges that in these eight transactions, Siebels issued checks that were returned unpaid by the bank because of insufficient funds.
The P&S Act states that payment for all livestock is due before the close of the next business day following the purchase and transfer of possession of the livestock. Failure to pay when due is a violation of the P&S Act. The P&S Act also requires dealers to have and maintain sufficient funds on deposit in the account from which the checks are drawn so that those checks can be paid out when presented for payment. Any delay made by the dealer to the market’s normal period for collecting payment is an unfair practice of the P&S Act.
The complaint also alleges that Siebels failed to keep records that fully and correctly disclosed these livestock purchase transactions.
The P&S Act is a fair trade practice and payment protection law that promotes fair and competitive marketing environments for the livestock, meat, and poultry industries.
For further information about the Packers and Stockyards Act, contact Stuart Frank, Director, Packers and Stockyards Division, Fair Trade Practices Program, at (515) 323-2586, or by email at Stuart.Frank@ams.usda.gov.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User