A cease and desist order was issued today against a Centralia man and his company, Central Missouri Energy, LLC. According to Secretary of State Jason Kander, Boyd Ware and CME offered and sold securities without being properly registered and deceived investors with phony information while scamming Missourians out of almost $200,000.
The company allegedly offered investments beginning in mid-2006 for a minimum investment of $25,000. Investors were told the funds would construct a biodiesel facility, but, after more than 7 years, that has not happened. The order also says Ware told investors he had secured funds with the U.S. Department of Agriculture and had also sold 90% of the units offered.
The allegation states Ware had assured his investors that he had hired “several reputable law firms” to review his business plans when, in fact, a large sum of the money was going to Mexican national Manual Camargo. Camargo reportedly claimed to be an attorney, but, according to his ex-wife, he did not graduated from college.
Kander’s order will prohibit Ware and the company from offering or selling securities in Missouri and seeks restitution for the victims.