What's Next in Arkansas Commodity Controversy?

By KARK 4 News

Published 08/24 2014 09:46AM

Updated 08/24 2014 10:04AM

LITTLE ROCK, AR - State lawmakers are looking for options in a commodity controversy that could cost farmers anywhere from $50-$80 million dollars.

This past week, Marci Manley reported that Turner Grain, a business that allows farmers to lock in a price for their crops and then tracks down a buyer, appears to have gone out of business. The owners of the business have not returned our calls.

Sources say dozens of farmers delivered grain to the broker and were not paid. Some of them that did receive payment say the checks bounced. Some of those farmers have filed a lawsuit.

On Friday, lawmakers met at the Capitol to discuss the controversy and what the state can do about it.

Speaker of the House Davy Carter joined David Goins Sunday on Capitol View and noted there may not be too much that the state can do to directly assist those impacted.

"A lot of this specific instance is going to have to be dealt with, unfortunately it looks like, in the court system," said Carter. "The advice consistently was given...that everybody needs to seek wise counsel and work through this process the best that they can."

Carter went on to say the state is looking at ways to prevent something like this from happening again. However, a solution won't pop up overnight.

"Whether that's licensing, bonding, insurance requirements, we don't really know at this point on the best way to move forward. But there is going to be a tremendous amount of due diligence in this because it is complex. We want to make sure we handle it right from state level," added Carter.

To hear more from Carter's interview, you can click on the video above.

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