That company last year said it planned to buy the shuttered ethanol-from-corn plant in the northeastern North Dakota city of Grafton and refurbish it to turn beets into the alternative fuel. The deal never materialized and the plant has since been dismantled.
Iowa officials accuse Darrell Smith, of Forest City, Iowa, of improperly handling sales of securities, and they've suspended his insurance license. Smith says in a published report that he plans to challenge the ruling. His attorney says no laws have been broken.