The members of a Minnesota farmers' cooperative have voted to dissolve and sell the cooperative's assets after the former elevator manager allegedly stole millions of dollars before disappearing in September, reports The Progressive Farmer.
The Ashby Farmers Cooperative discovered it was in trouble in early September when it was uncovered that the long-time former manager, Jerry Hennessey, had written millions of dollars in unauthorized checks.
Ashby members voted earlier this week to authorize the board of directors to sell substantially all of the cooperative's assets, and the members voted to dissolve the cooperative.
Early on, the cooperative's attorney thought there was a deal for an asset sale but "a hiccup occurred" that stalled it because of underfunded pension liabilities.
Hennessey remains in hiding from state and county investigators.
