Regulators Question Grain Business Ponzi Scheme Plea Deal

Prosecutors allege 22-year-old Hunter Hanson of Leeds was running his grain business like a Ponzi scheme

BISMARCK, ND — North Dakota regulators are raising questions about a plea deal a grain trader reached with federal prosecutors.

Prosecutors allege 22-year-old Hunter Hanson of Leeds was running his grain business like a Ponzi scheme.

Hanson plans to plead guilty to money laundering and wire fraud charges.

The deal calls for him to forfeit his assets and pay $11.4 million in restitution to creditors.

Public Service Commissioner Randy Christmann says he doesn’t know how much money Hanson will ultimately pay back.

He says it’s hard to imagine he has millions of dollars.

Categories: Local News, North Dakota News