Mamtek

Kander Announces Legal Action Over Mamtek Failure

Adam Allington and The Associated Press — Thu, 04 Apr 2013 18:58:44 +0000

Missouri Secretary of State Jason Kander is taking action against a financial management company connected to the failed Mamtek artificial sweetener plant in mid-Missouri.

In his role as Secretary of State Jason Kander also serves as Missouri’s chief securities regulator.

He’s accusing Morgan Keegan, a Memphis-based firm of helping defraud Missourians based on a list of falsehoods, including the claim the Mamtek held several production patents.

Former Mamtek CEO To Be Extradited To Missouri

Marshall Griffin — Wed, 03 Oct 2012 21:28:33 +0000

Former Mamtek CEO Bruce Cole has ended his fight to be extradited to Missouri, where he faces charges related to the collapse of a project to build an artificial sweetener plant in the town of Moberly.

After refusing last week to be extradited, Cole reversed course at a hearing today in Orange County, California, and waived extradition. He is charged with diverting $700,000 in bond money to cover personal expenses. That included around $250,000, which was directed towards a failed attempt to prevent foreclosure on his home in Beverly Hills.

Former Mamtek CEO Fighting Extradition To Missouri

Marshall Griffin — Thu, 27 Sep 2012 22:23:07 +0000

The former CEO of Mamtek is fighting extradition to Missouri.

At a court hearing today in Santa Ana, California, Bruce Cole refused to be extradited, which means that he can’t be sent back to Missouri unless the Governor of California asks the court to order it. A spokeswoman for the Missouri Attorney General’s office says that request is being expedited.

New Audit Faults Screening Used For Mamtek Incentives

Marshall Griffin — Tue, 25 Sep 2012 16:30:56 +0000

A state audit released today says that the Missouri Department of Economic Development (DED) could have done a better job of screening applicants for tax credits for the failed Mamtek project in Moberly.

Two years ago the small northeast Missouri town issued $39 million in bonds to get the company to build an artificial sweetener plant. Mamtek later missed a bond payment and construction halted, and Moberly’s bond rating was downgraded as a result. State Auditor Tom Schweich (R) said the due diligence procedures used by the DED were woefully inadequate.

Morning headlines: Tuesday, September 18, 2012

Tina Eaton and The Associated Press — Tue, 18 Sep 2012 14:21:21 +0000

Proposed amendment to appear on November ballot

A Missouri appeals court panel has upheld the ballot summary for a proposed constitutional amendment that would change the process for selecting appellate judges.

In its ruling Monday, a three-judge panel of the Western District Court of Appeals certified the summary that voters will see on the November ballot.