Former Energae LP president says he’s subpoenaed for federal grand jury Oct. 23

I photographed Osmund “Bud” Jermeland at Estherville, Iowa, in August 2012, for Agweek.

FORMER ENERGAE LP PRESIDENT SUBPOENAED

A former president of Energae LP of Clear Lake, Iowa, confirms to Agweek that the Internal Revenue Service has subpoenaed him to testify in a grand jury on Oct., 23, 2 p.m., in federal court at Cedar Rapids, Iowa.

Energae is a biofuel manufacturer that in 2012 tried in vain to develop a beet-to-ethanol plant in Grafton, N.D., and has sold company shares and tax credits in North Dakota.

Osmund “Bud” Jermeland, a farm equipment dealership sales manager at Estherville, Iowa, who served as president of Energae from July 2008 to July 2010, says the IRS served him a subpoena at his place of business on Oct. 17. The subpoena asked him to bring any Energae company records he has.

Jermeland he doesn’t know the specific target of the grand jury, but thinks it isn’t Jermeland. He says he knows of at least two other officials or former officials of the company who have received similar subpoenas.

For more information about the case, see this week’s issue of Agweek on Oct. 28, or at agweek.com

 

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