Home Indiana Agriculture News Former Ag Secretary Perdue 2017 Real Estate Transaction Drawing Attention

Former Ag Secretary Perdue 2017 Real Estate Transaction Drawing Attention

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A report from the Washington Post questions a real estate transaction made by former Secretary of Agriculture Sonny Perdue just after his selection to the position in 2017.

The Washington Post reports Perdue’s now-former company bought a small grain facility in South Carolina 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.

“This was nothing more than a business decision to sell a significantly underperforming asset,” an ADM spokesperson told the Post.

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 called the findings disturbing. Responding to the report, she states, “I’ve already called on the Office of Government Ethics to review this situation, and believe that they should expedite their efforts.”