April 18, 2019
Grain trader’s scheme impacts area elevators
By JILL DENNING GACKLE
Hunter Hanson caused Brian Larson to lose some sleep last fall.
Hunter Hanson is a 21-year-old grain dealer who allegedly bilked Manager Larson and the McClusky Elevator of $768,000.
Although the hit was felt, Larson assured his members three weeks ago that the elevator is solvent and will move forward with the hopes of recovering some of the loss.
McClusky’s elevator was not alone in its plight. Court documents say there are more then 50 victims of Hanson across North Dakota for more than $7 million, including CHS of Garrison for $509,518 and United Prairie Cooperative of Mountrail County for $94,480.
For Larson it all started when a broker contacted him last fall to purchase spring wheat. It was a large buy, but not an uncommon amount, Larson said. He had already done business with the broker since 2013 and previous purchases were paid. But when multiple checks for the $768,000 bill came back with insufficient funds, States Attorney Ladd Erickson began to follow the trail of the Ponzi scheme Hanson had crafted.
At 20-years-old Hanson, of Leeds, started a roving grain-buying company in March 2017. He became licensed about two months later. According to interviews with Ag Week, he was self taught and grew up working at the Barlow elevator.
Hunter Hanson is a 21-year-old grain dealer who allegedly bilked Manager Larson and the McClusky Elevator of $768,000.
Although the hit was felt, Larson assured his members three weeks ago that the elevator is solvent and will move forward with the hopes of recovering some of the loss.
McClusky’s elevator was not alone in its plight. Court documents say there are more then 50 victims of Hanson across North Dakota for more than $7 million, including CHS of Garrison for $509,518 and United Prairie Cooperative of Mountrail County for $94,480.
For Larson it all started when a broker contacted him last fall to purchase spring wheat. It was a large buy, but not an uncommon amount, Larson said. He had already done business with the broker since 2013 and previous purchases were paid. But when multiple checks for the $768,000 bill came back with insufficient funds, States Attorney Ladd Erickson began to follow the trail of the Ponzi scheme Hanson had crafted.
At 20-years-old Hanson, of Leeds, started a roving grain-buying company in March 2017. He became licensed about two months later. According to interviews with Ag Week, he was self taught and grew up working at the Barlow elevator.
