Sannterra requests the approval of the court for $ 15 million sales of farms in the middle of the check-kit scandal

The Sannterra facility in Iowa is owned by Canadian Mother Company Säterra Enterprises Inc. Sannterra Enterprises and is controlled by the Price family.

Sannterra creates around 500,000 pig places for Sunwold, Lariagra and other units.

Check-kiting is a form of bank fraud that can be punished with a fine of up to $ 1 million and/or 30 years in prison. Check-kiting is the practice of opening one or more accounts in several banks. Checks are pulled on one account and stored in the other if neither of the two account has significant means.

According to court documents, Compeer estimated the collateral of the three operations with around 19 million US dollars.

“Pipestone believes that the proposed asset agreement with TPG offers the best value for the assets sold according to its business judgment and that the sale of all assets in a single, integrated package has an advantage,” Pipestone told the court on behalf of it.

“No other interested party has made a similar offer to buy all assets at the value that TPG has offered. In addition, the inclusion of all existing barn rental contracts is important for the sale, as this protects the biosecurity of pig operations that give the leasing value.”

The Sannterra Group applied for the federal government in Canada in Canada in Canada in Canada. The Sannterra Group heard and is operated by brothers Ray, Art and Glen Price. Ray serves as CEO.

In a Competer lawsuit, among other things, several charges, including fraud and violation of loan agreements as well as unjustified enrichment, is claimed.

According to the COMPEER complaint, the three institutions in the USA used check-ups for their credit lines and agricultural cash management accounts with a computer to write several checks a day.

Between January 1, 2025 and February 10, 2025, the pig companies alone spent 474 checks for around 431.3 million US dollars. During the same time, you paid 472 checks into your Compeeer accounts a total of 432.4 million US dollars.

Competer informed the court that the “simultaneous broadcasts” occurred almost daily during this period and achieved an average of around 18 checks for a total of 16.6 million dollars a day from the compeverer accounts.

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