Kander Issues Cease and Desist Order Against Mamtek Firm

4 years 8 months 1 week ago Thursday, April 04 2013 Apr 4, 2013 Thursday, April 04, 2013 11:42:00 AM CDT April 04, 2013 in News
By: Micah Smith
loading

JEFFERSON CITY - Missouri Secretary of State Jason Kander issued a cease and desist order Thursday against Morgan Keegan & Co., Inc. for its involvement in the botched Mamtek investment in Moberly. The order alleges that Morgan Keegan did not adequately inform investors of the risks involved in purchasing bonds for the Mamtek sweetener factory in Moberly. Kander said this cost Missouri investors more then $6.5 million.

The cease and desist order stops Morgan Keegan from leaving out important facts when selling bonds to investors and requires the company to thoroughly investigate bond offerings.

A news release from the Missouri Secretary of State's Office alleged that Morgan Keegan misrepresented claim that there was an operating facility in China. But upon investigation, the state government was unable to prove that the facility existed.

Kander stated Morgan Keegan told investors that its bonds were backed by Mamtek's patents, but Mamtek does not have any patents. Kander also stated Morgan Keegan falsely claimed that Moberly would pay back investors bonds if Mamtek failed.

Kander said other states where Morgan Keegan operates are starting to investigate the companies bond sales in Moberly.

More News

Grid
List
POPLAR BLUFF, Mo. (AP) — A city official in the southeast Missouri town of Poplar Bluff faces criminal charges... More >>
7 minutes ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 4:07:52 PM CST December 13, 2017 in News
COLUMBIA - Authorities say they did not find a suspicious or explosive device around the Hearnes Center shuttle bus stop.... More >>
22 minutes ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 3:53:00 PM CST December 13, 2017 in News
AUGUSTA, Ga. (AP) — A federal grand jury has indicted a Missouri man with making threatening phone calls to... More >>
1 hour ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 3:11:24 PM CST December 13, 2017 in News
KLIEVER - Deputies discovered stolen property in the woods near Kliever, Missouri. Police said they were alerted to the... More >>
2 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 1:39:00 PM CST December 13, 2017 in News
AUDRAIN COUNTY - Authorities identified the man found injured on a county road, and who later died, as Antonio Jefferson.... More >>
3 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 1:12:00 PM CST December 13, 2017 in News
COLUMBIA - As Columbia Regional Airport plans to expand, it got a push from Mayor Brian Treece. Treece called... More >>
3 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 12:37:00 PM CST December 13, 2017 in News
Jefferson City - While the Republican Congress in Washington is working on a plan to overhaul the country's tax system,... More >>
3 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 12:18:00 PM CST December 13, 2017 in News
COLUMBIA – The University of Missouri hit a major fundraising milestone, announcing Wednesday it reached the $1 billion mark. ... More >>
4 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 12:08:00 PM CST December 13, 2017 in News
MILLER COUNTY - Prosecutors charged a Miller County man with failing to comply with sex offender registration for a third... More >>
6 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 9:44:00 AM CST December 13, 2017 in News
COLUMBIA – The growth of Columbia Regional Airport is set to take another step forward Wednesday morning. Mayor Brian... More >>
8 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 8:04:00 AM CST December 13, 2017 in News
COLUMBIA - SWAT teams broke in to a home on Fir Place following a standoff early Wednesday, but did not... More >>
8 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 7:55:00 AM CST December 13, 2017 in News
COLUMBIA - For people in jail, it's sometimes difficult to get together the funds to bail out. That's where... More >>
17 hours ago Tuesday, December 12 2017 Dec 12, 2017 Tuesday, December 12, 2017 10:24:00 PM CST December 12, 2017 in News
MONTGOMERY, Ala. - Alabama Republican Roy Moore, beset by allegations of sexual misconduct, lost his bid to become a senator.... More >>
18 hours ago Tuesday, December 12 2017 Dec 12, 2017 Tuesday, December 12, 2017 9:30:00 PM CST December 12, 2017 in News
JEFFERSON CITY - The former Cole County Chief Juvenile Officer sued his former boss and the Cole County Commission Tuesday,... More >>
20 hours ago Tuesday, December 12 2017 Dec 12, 2017 Tuesday, December 12, 2017 7:33:00 PM CST December 12, 2017 in News
BOONE COUNTY - An abandoned car caught fire Tuesday at the intersection of East Broadway and South Rolling Hills Road.... More >>
20 hours ago Tuesday, December 12 2017 Dec 12, 2017 Tuesday, December 12, 2017 7:21:00 PM CST December 12, 2017 in News
Update: Police said the investigation into the Monday Old Hawthorne homicide revealed a home invasion and drug use. Investigators... More >>
20 hours ago Tuesday, December 12 2017 Dec 12, 2017 Tuesday, December 12, 2017 7:21:00 PM CST December 12, 2017 in News
COLUMBIA - Missouri has entered in a new foster care study that will look at foster parent recruitment and retention.... More >>
21 hours ago Tuesday, December 12 2017 Dec 12, 2017 Tuesday, December 12, 2017 6:51:00 PM CST December 12, 2017 in News
AUDRAIN COUNTY - A criminal investigation was underway Tuesday after a man's death and a vehicle fire. Foul play was... More >>
23 hours ago Tuesday, December 12 2017 Dec 12, 2017 Tuesday, December 12, 2017 5:08:00 PM CST December 12, 2017 in News
Columbia, MO
Broken Clouds 56°
5pm 52°
6pm 49°
7pm 46°
8pm 43°

Select a station to view its upcoming schedule:

Coming Up Next

4:00p
Jeopardy!
4:30p
Jeopardy!
5:00p
KOMU 8 News @ 5
4:00p
The Goldbergs
4:30p
The Goldbergs
5:00p
American Dad!

Tonight's Schedule

7:00p
The Wall
8:00p
Golden Globe 75th Anniversary Special
7:00p
Riverdale
8:00p
Dynasty
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld