MAY 11, 2022:
The Nebraska Public Service Commission has issued an order (GDC-446) denying a motion for reconsideration of a civil penalty assessed to Banghart Properties, LLC, a.k.a. Fearless Grain Marketing Storage & Arbitrage, a.k.a. Fearless Grain Marketing, a.k.a. Fearless Grain of Gettysburg.
On March 15, 2022, the PSC assessed a civil penalty of $290,000 against the Banghart Properties, LLC (and its various aliases), for operating as a grain dealer in Nebraska without a license.
Banghart Properties, LLC, filed a Motion for Reconsideration with the Commission March 25. Commissioners heard oral arguments on the Motion to Reconsider on May 2. The company– should it choose to– has 30 days to file a court appeal regarding the Commission’s decision.
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MARCH 16, 2022:
The Nebraska Public Service Commission has issued an Order (GDC-446) saying a Gettysburg grain marketing company operated in that state without a license.
Fearless Grain Marketing (a.k.a. Banghart Properties, LLC, a.k.a. Fearless Grain Marketing Storage and Arbitrages, a.k.a. Fearless Grain of Gettysburg, South Dakota) must pay a civil penalty of $290,000.
Commission Chair Dan Watermeier says the company’s flagrant violation of Nebraska law along with its unwillingness to comply led to the conclusion that this size of civil penalty is warranted. He says they take their responsibility to protect Nebraska producers/sellers seriously.
The Company has 30 days in which to appeal the Commission’s Order.
In October 2021, Nebraska’s PSC 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.
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DECEMBER 15, 2021:
The Nebraska Public Service Commission has scheduled a January hearing for a Gettysburg, SD, based grain marketing company.
A complaint (GDC-446) was filed against Fearless Grain Marketing (a.k.a. Banghart Properties, LLC, a.k.a. Fearless Grain Marketing Storage and Arbitrages, a.k.a. Fearless Grain of Gettysburg, South Dakota) in October. The complaint alleges Fearless violated Nebraska law (Rev. Stat. §75-903 and 75-904) by operating as a grain dealer without a license and by taking possession of grain without issuing written communication that complies with Nebraska PSC rules.
The Wednesday, Jan. 5, 2022, hearing will begin at 10am and be held in the PSC hearing room in Lincoln. It will also be available virtually via WebEx by going to the hearing information page of the PSC website.
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