ADM property sale to Perdue called into question
Former Ag Secretary Sonny Perdue’s finances and ethics are under scrutiny following an investigation by the Washington Post.
The Post says it was prompted by the government watchdog Accountable.US to look into a South Carolina real estate deal in 2017 where Perdue’s company AGrowStar bought a small grain plant from Archer Daniels Midland for $250,000 that February.
ADM previously paid more than $5.5 million for the same property six years earlier which included an 11-million-bushel soybean processing plant, three million bushels of grain storage capacity, and a rail terminal.
AGrowStar was sold, including the South Carolina property for about $12 million, before the end of 2017 which the Post says evaded ethics disclosures filed by Perdue during his time as Secretary.
Senate Ag Committee Chair Debbie Stabenow, a Michigan Democrat, says the findings are deeply concerning and she’s calling on the Office of Government Ethics to review this situation.