Click for St. Louis, Missouri Forecast

// a href = ./ // St Louis News, Weather, Sports, The Big 550 AM, St Louis Traffic, Breaking News in St Louis

 
 
 

COLUMBIA, Mo. (AP) — A new lawsuit is seeking $30 million from an investment banking firm and 10 employees because of a failed factory project in central Missouri.

Morgan Keegan, which has merged with Raymond James Financial Inc., was the underwriter in 2010 for a $39 million bond issue for a failed artificial sweetener factory for Mamtek US Incorporated in Moberly. Construction on the factory stopped in August 2011 when Mamtek failed to make a required bond payment.

The Columbia Daily Tribune reports new lawsuit was filed Wednesday in Boone County because $5.6 million worth of the bonds, in default since 2011, were sold there.

A Raymond James spokesman says the company denies wrongdoing, and the state reviewed the project before the city agreed to issue bonds before Morgan Keegan was hired.

Published in Local News

ST. LOUIS (AP) - Missouri Secretary of State Jason Kander is preparing to announce what he calls a "major securities action" that involves millions of dollars.

   Kander scheduled a news conference Thursday at the Old Post Office in St. Louis. His office says Kander will seek restitution, civil penalties and fees and costs, but no other details have been released.

   The secretary of state's office is Missouri's chief overseer and enforcer of securities laws intended to protect investors from unfair practices and fraudulent schemes.

 
Published in Local News
Tuesday, 26 March 2013 14:15

Mamtek CEO released after posting bail

MOBERLY, Mo. (AP) - The former CEO of a failed artificial sweetener facility has been released from a Missouri jail after posting $10,000 bail while awaiting trial on theft and fraud charges.

Officials at the Randolph County jail say Bruce Cole was released Monday. He faces one theft charge and four counts of securities fraud stemming from the financial collapse of a Mamtek U.S. facility in Moberly in 2011.

Moberly had issued $39 million in industrial development bonds to help finance the construction of the facility. Among other things, Cole is accused of diverting bond revenues to avoid foreclosure on a home in Beverly Hills, Calif.

He had been held on $500,000 bond until a judge reduced the amount last week.
Published in Local News
MOBERLY, Mo. (AP) - The former CEO of a failed artificial sweetener facility has been released from a Missouri jail after posting $10,000 bail while awaiting trial on theft and fraud charges.

Officials at the Randolph County jail say Bruce Cole was released Monday. He faces one theft charge and four counts of securities fraud stemming from the financial collapse of a Mamtek U.S. facility in Moberly in 2011.

Moberly had issued $39 million in industrial development bonds to help finance the construction of the facility. Among other things, Cole is accused of diverting bond revenues to avoid foreclosure on a home in Beverly Hills, Calif.

He had been held on $500,000 bond until a judge reduced the amount last week.
Published in Local News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next
Rams to host 2 prime-time games in 2014

Rams to host 2 prime-time games in 2014

   The St. Louis Rams will open the 2014 season at home against the Minnesota Vikings on September 7th.      The 2014 schedule released Wednesday al...

Mets cut down tying run, hold off Cardinals 3-2

Mets cut down tying run, hold off Cardinals 3-2

NEW YORK (AP) -- Lucas Duda hit a long home run and the New York Mets threw out the potential tying run at the plate in the ninth inning to hold off the St. Louis Cardinals 3-2 ...

Wainwright injures knee, Cardinals blank Mets 3-0

Wainwright injures knee, Cardinals blank Mets 3-0

  NEW YORK (AP) -- Adam Wainwright threw seven neat innings before leaving with a knee injury, and Jon Jay hit a two-run single that sent the St. Louis Cardinals to a 3...

Albert Pujols hits 500th HR of major league career

Albert Pujols hits 500th HR of major league career

  WASHINGTON (AP) -- Albert Pujols reached 500 homers in a hurry.   The Los Angeles Angels' first baseman hit a pair of shots off Washington Nationals righ...

Lyons solid in 1st start, Cards blanked by Mets

Lyons solid in 1st start, Cards blanked by Mets

  NEW YORK (AP) -- Tyler Lyons stepped into the St. Louis rotation and looked right at home. Too bad for him, the Cardinals couldn't get anyone home to help him. &n...

Blackhawks blank Blues 2-0 in Game 3

Blackhawks blank Blues 2-0 in Game 3

CHICAGO (AP) -- Corey Crawford made 34 saves in his third career postseason shutout, and the Chicago Blackhawks got back into their playoff series with the St. Louis Blues with ...

Cards defense, bullpen falter in 3-2 loss to Nats

Cards defense, bullpen falter in 3-2 loss to Nats

  WASHINGTON (AP) -- The Cardinals managed to score twice against Stephen Strasburg while starter Shelby Miller kept the Nationals offense quiet. Nine outs away from ta...

© 2013 KTRS All Rights Reserved