SEC Investigating Mamtek in Moberly

5 years 6 months 3 weeks ago October 01, 2011 Oct 1, 2011 Saturday, October 01 2011 Saturday, October 01, 2011 4:40:00 PM CDT in News
Source: Associated Press
By: Associated Press

COLUMBIA, Mo. (AP) - A recent disclosure indicates the Securities and Exchange Commission is investigating a so-far unfulfilled project to produce artificial sweetener in central Missouri.


Mamtek U.S. Incorporated planned to employ several hundred people at a sweetener plant in Moberly. The city issued $39 million in industrial development bonds and the state offered more than $17 million in incentives, though no state funds went to the company. The plant still is under construction, but Mamtek has laid off its employees and the company missed a bond payment.


The Columbia Daily Tribune reports bond trustee UMB Bank disclosed in a filing that the SEC has been investigating Mamtek. Moberly City Manager Andy Morris says the city has provided documents the federal commission requested.

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