Humphrey farmer who lost thousands reaches settlement; case disposed – Norfolk Daily News

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HUMPHREY — A Platte County farmer who formally accused a quantity of events earlier this yr of placing him out Of An monumalestal sum Of money has reached a settlemalest with the alleged perpetrators.

A grievance filed by Michael Foltz of Humphrey in Might alleged that he misplaced Greater than $170,000 in commodities by way of a collection of unaccredited gross sales. The alleged gross sales have been executed by Zane Abner and Ethan Bruland of Platte County, Who’re each employed by Tredas, a Nebraska restricted authorized obligation agency.

Between September 2018 and March 2020, Bruland and Abner have been alleged to have purchased and purchased commodities on Foltz’s brokerage account with R.J. O’Brien. The defendants allegedly collected fee costs on contracts executed by O’Brien with regard to Foltz’s brokerage account.

Bruland and Abner Acquired expressed authorization to make some purchases, gross sales and trades of corn, soybeans and cattle, However The two males allegedly made An monumalestal Number of gross sales, purchases and trades for these commodities that Weren’t accredited by Foltz, Based mostly on the grievance.

Earlier than a settlemalest was reached, Foltz was looking for damages for the losses he sustained and sought a jury trial. He is recurrented by Wegener Scarborough & Lane, a regulation agency that operates in 4 states, collectively with Nebraska.

Settlemalest phrases Weren’t disclosed, however Benjamin Wegener, Foltz’s lawyer, conagencyed this week that the matter was resolved and the case was dismissed. Wegener Did not supply further commalest. Foltz declined To current any commalest relating to the settlemalest.

Richard Jeffries, an Omaha lawyer recurrenting Tredas, Abner and Bruland, Did not Reply to a request for commalest.

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