Kander Issues Cease and Desist Order Against Mamtek Firm

4 years 4 months 2 weeks 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
BOONE COUNTY - Columbia Police arrested a man Sunday night after a standoff that began in the afternoon, according to... More >>
3 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 11:39:51 PM CDT August 20, 2017 in Continuous News
CALLAWAY COUNTY - While many people are preparing to look into the sky for the eclipse Monday, one airport is... More >>
9 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 6:01:00 PM CDT August 20, 2017 in News
FERGUSON (AP) — A Missouri lawmaker who temporarily posted a Facebook comment expressing hope that President Donald Trump would be... More >>
11 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 3:51:00 PM CDT August 20, 2017 in News
COLUMBIA - The total solar eclipse is coming on the fifth day of school, and Columbia teachers are trying to... More >>
13 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 2:38:00 PM CDT August 20, 2017 in News
COLUMBIA - Researchers are getting ready for the solar eclipse on Aug. 21. Not only will they be watching the... More >>
14 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 1:22:00 PM CDT August 20, 2017 in News
KANSAS CITY (AP) — Police in Kansas City say a man pushing his disabled car on Interstate 70 was killed... More >>
14 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 1:14:03 PM CDT August 20, 2017 in News
ST. LOUIS (AP) — Police say a man was injured when a St. Louis sidewalk collapsed under the forklift he... More >>
14 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 1:09:41 PM CDT August 20, 2017 in News
FLORISSANT (AP) — The parents of a 4-year-old girl are calling for the closure of a suburban St. Louis day... More >>
15 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 12:37:23 PM CDT August 20, 2017 in News
KANSAS CITY (AP) — Parks officials in Kansas City, Missouri, say an 83-year-old Confederate memorial will be removed after it... More >>
16 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 11:17:00 AM CDT August 20, 2017 in News
ST. LOUIS (AP) — Pastor Henry Price of St. Louis is ready to take your prayer request, and you don't... More >>
16 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 10:42:11 AM CDT August 20, 2017 in News
FERRELVIEW (AP) — A member of a small western Missouri town's governing board is leading an effort to oust the... More >>
17 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 10:20:36 AM CDT August 20, 2017 in News
CUBA (AP) — Democratic Missouri Sen. Claire McCaskill is holding another round of town halls in rural, Republican strongholds as... More >>
17 hours ago Sunday, August 20 2017 Aug 20, 2017 Sunday, August 20, 2017 9:56:21 AM CDT August 20, 2017 in News
JEFFERSON CITY – In preparation for a large number of visitors to Missouri for Monday's solar eclipse, the State Emergency... More >>
1 day ago Saturday, August 19 2017 Aug 19, 2017 Saturday, August 19, 2017 11:49:00 PM CDT August 19, 2017 in News
JEFFERSON CITY - The incoming freshmen at Blair Oaks High School will become the first class to not have a... More >>
1 day ago Saturday, August 19 2017 Aug 19, 2017 Saturday, August 19, 2017 8:59:00 PM CDT August 19, 2017 in News
COLUMBIA – Angela Speck, the director of astronomy at the University of Missouri, gave a presentation titled, "Doing Science in... More >>
1 day ago Saturday, August 19 2017 Aug 19, 2017 Saturday, August 19, 2017 4:36:00 PM CDT August 19, 2017 in News
PIKE COUNTY, Mo. - A man was charged with first degree murder and armed criminal action after Alexander Koch died... More >>
1 day ago Saturday, August 19 2017 Aug 19, 2017 Saturday, August 19, 2017 4:32:00 PM CDT August 19, 2017 in News
COLUMBIA - With mid-Missouri preparing for the upcoming eclipse on Monday, Laws Observatory played host to an event made to... More >>
1 day ago Saturday, August 19 2017 Aug 19, 2017 Saturday, August 19, 2017 3:18:00 PM CDT August 19, 2017 in News
ST. LOUIS (AP) — A former school bus driver in eastern Missouri has been sentenced to 20 years in prison... More >>
1 day ago Saturday, August 19 2017 Aug 19, 2017 Saturday, August 19, 2017 1:58:58 PM CDT August 19, 2017 in News
Columbia, MO
Broken Clouds 72°
4am 76°
5am 75°
6am 75°
7am 73°

Select a station to view its upcoming schedule:

Coming Up Next

3:30a
Paid Program
4:00a
Early Today
4:30a
KOMU 8 News Today
3:30a
Paid Program
4:00a
Paid Program
4:30a
Paid Program

Tonight's Schedule

7:00p
American Ninja Warrior
9:00p
Midnight, Texas
7:00p
Supergirl
8:00p
Hooten & the Lady
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld