A business transaction by then-newly-appointed Agriculture Secretrary Sonny Perdue is raising questions on Capitol Hill.
The Washington Post reports Purdue’s now-former company bought a small South Carolina grain facility in 2017 for $250,000, while ADM purchased the facility six years prior for $5.5 million. However, the county the facility is located in appraised the property at $530,000 in 2018.
An ADM spokesperson told the Post, “This was nothing more than a business decision to sell a significantly underperforming asset.” Both a representative of Perdue’s former company and ADM confirmed the negotiations for the transaction started in 2015, when ADM originally asked for $4 million for the property.
Senate Agriculture Committee Chair Debbie Stabenow (D-MI) called the findings distributing. “I’ve already called on the Office of Government Ethics to review this situation, and believe that they should expedite their efforts,” Stabenow said.