FARGO, N.D. (AP) — A former North Dakota grain trader accused in a multi-million dollar fraud scheme has signed a plea agreement in federal court.
Authorities say 22-year-old Hunter Hanson, of Leeds, bilked about 60 farmers, elevators and commodity brokers in North Dakota, Minnesota and Canada. The deal calls for him to plead guilty to wire fraud and money laundering and pay back about $11.4 million.
Court documents unsealed Monday show that Hanson contracted with farmers and grain elevators last year to buy crops and either failed to pay them or sent them checks that bounced. He allegedly laundered money between his multiple bank accounts and other businesses.
The actions led the state Public Service Commission to shut down the Devils Lake-based company.
Defense attorney Lucas Wynne did not immediately return a phone message Monday seeking comment.
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