Last settlement for failed Mamtek factory
An investment banker is ordered to pay $850,000 dollars in the last settlement involving lawsuits over bonding for the failed Mamtek factory in Moberly.
Missouri Secretary of State Jason Kander announced the settlement today . It involved Morgan Keegan, which is based in Tennessee.
Morgan Keegan helped Moberly prepare its bond offering and sold the bonds for profit to the public.
“I think the message is whether it’s the people of Moberly or anyone, if any investor or anyone else is taken advantage in a financial scam, my office will pursue the people that did that and make sure there is a penalty to be paid for it,” said Kander.
In 2010, Moberly issued $39 million in bonds to finance construction of the plant that never came to fruition.
