A financially troubled Iowa company is operating under a court order to show it did not attempt to destroy or manipulate financial data sought by a court-appointed receiver.
In March, the Iowa-incorporated company Sunterra Farms Iowa, and its affiliates, Sunwold Farms Inc., and Lariagra Farms South Inc. were accused in U.S. District Court by one their lenders, Compeer Financial, of operating a billion-dollar check-kiting scheme.
Compeer Financial is suing the three companies, which are run by the Price family of Yankton County, South Dakota. The companies are responsible for extensive swine operations in Iowa and South Dakota, with their parent companies based in Canada.
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