Neb. PSC opens complaint against S.D. grain dealer
LINCOLN, Neb. — The Nebraska Public Service Commission 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, S.D., to cease and desist all operations as a grain dealer in Nebraska.
On Sept. 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 Oct. 12.
On Oct. 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.
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