Submitted – By now Michael and Don Bingham thought they would have a hydrophonic greenhouse in operation in the Town of Muscoda with a growing group of employees.
They were awarded a $100,000,000 grant in 2018 to start the operation. The problem is they never received the money.
Don and Michael have exhausted many means to find out why. This week they are have an appointment with the FBI, hoping to find out just where the money went.
What the Binghams have found out is that financing was approved October 31, 2018 but it never appeared in any account they could access. To make it more difficult nearly every road they have traveled to find the money has resulted in a cease communications order, the latest coming from the Wisconsin Counties Association under President and CEO Mark D. O’Connell.
The Binghams were planning to work with David Ryan, a Bond Counsel with Foley and Lardner. According to sources, though, Ryan has since retired.
The Binghams feel Ryan blocked financing attempts with the money diverted elsewhere. The same money cannot be used twice.
That leaves the Binghams asking a big question …. "How does one fail to noice a $100,000,000 structure spanning 34 acres not built?"
Other questions coming from the obstacles the Binghams have encountered include:
1-Does the user have to pay back all the money over the seven years?
2-Does the user have to provide the money for the greenhouse?
3-Does R&M (the Binghams) own the companies formed from the bond’s monetary use?
Don Bingham has been visiting any agency that may have answers but is coming up empty. He maintains there should be annual audits required by the Secretary of Department of Administration and the Legislative Audit Bureau. The Department of Revenue should have notification and the WEDC should have been notified of volume cap requirements.
Bingham said he has filled out a complaint with the Wisconsin DOR asking who has been filing RY&M Hydro Farms state taxes since 2018. He has also been in contact with the Joint Legislative Audit Committee.
All the Binghams are asking are to be contacted with the big question …. WHERE IS THE MONEY?