Secretary of State Kander stops biodiesel investment scam
JEFFERSON CITY - Missouri Secretary of State Jason Kander issued a cease and desist order against Boyd A. Ware and his company, Central Missouri Energy, on Friday, Nov. 7. According to the order, Ware tricked investors with false information and conned Missourians out of almost $200,000.
The order says four Missourians invested the nearly $200,000 with Ware and CME between 2006 and 2009. Ware told investors the money would be used to build a biodiesel plant; however, seven years later, Ware has still not built the plant.
According to the secretary of state's office, Ware told investors multiple law firms helped with the business plan. The order said Ware was actually paying Manuel Carmago, a Mexican citizen, for legal advice. Carmago claimed to be an attorney, but according to his ex-wife, he has no degrees or qualifications to practice law.
"Not only did this company illegally sell investments, they used deceptive tactics to lure investors into what they thought was a promising investment and withheld the truth about where funds truly went," Kander said in a news release.
Kander recommends investors contact his office before investing in businesses to avoid similar scams.
The order prohibits Ware and CME from offering and selling securities.