Sioux Automation Exonerated Of Any Wrongdoing In Regard To Former Employee Stock Plan

Date posted - April 11, 2013

investigationSioux Center, Iowa — A Sioux Center company that makes and sells farm equipment has been exonerated of any wrongdoing, after allegations were made about their employee stock plan.

Agency Two-Twelve, representing Sioux Automation Center reports that Sioux Automation has received news that federal prosecutors and the FBI have terminated their investigation and any assertion of criminal activity at the company. Federal agents conducted a search of Sioux Automation in Sioux Center in October. The focus of the investigation was the company’s termination of its former employee stock ownership plan (ESOP). The investigators are now in the process of returning all of the documents that were taken during the search.

Ron Hulshof, CEO of Sioux Automation says that there was never a doubt in his mind that every decision and action taken related to the ESOP was done with the utmost of care, integrity and professional guidance. He says that even with that knowledge and confidence in the company’s innocence, this was a very trying time for Sioux Automation employees, their families and the company. He says they have been heartened by the support of their clients, business associates, family members and friends who, like Sioux Automation executives, were in disbelief when agents descended on the company last fall.

He says Sioux Automation’s focus is now where it has been for 50+ years, and should always be – on providing excellent products and services to their clients and being a great place to work.

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One Response to “Sioux Automation Exonerated Of Any Wrongdoing In Regard To Former Employee Stock Plan”

  1. Mary Schomer says:

    Friday, May 17, 2013
    Today the US Congress is conducting a hearing to determine if the IRS has targeted and harassed religious groups, TEA party groups, and conservative groups opposed to the current administration policies. We have heard reports from congressmen that conservative groups and individuals have been harassed by the IRS, FBI, and other federal agencies. With that in mind, I wonder if Ron Hulshof, president of Sioux Automation, is a Republican who supported Mitt Romney? Romney campaigned in Orange City on September 5, 2012, and the FBI and Labor Dept. raided Sioux Automation on October 23, 2012. Was there a political motive or intimidation?

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