Young North Dakota Grain Merchant Owes $5M
PSC has issued cease-and-desist orders against Hunter Hanson's two companies
The Globe reports that over the past three years, Hunter Hanson, 21, has seemed to be an entrepreneurial wonder, registering seven businesses with the state of North Dakota.
In early November, the North Dakota Public Service Commission started getting complaints on two of his businesses -- Midwest Grain Trading company and NoDak Grain, both based in Devils Lake.
As of Nov. 21, Konrad Crockford, director of the PSC compliance division, says calls have come in related to some $5 million to $6 million in “bounced, canceled or stopped checks or people owed for grain they had priced.”
Hanson says the totals are far lower.
On Nov. 21, the PSC held a special meeting to issue a cease-and-desist order against his companies.
Read the full report at The Globe.