NEMO man accused in securities scheme
A Northeast Missouri man and a central Missouri woman are accused of misusing more than $2 Million they raised from investors for "Boyd-O-Plex," their supposed "molecular exchange" energy technology.
Missouri Secretary of State Robin Carnahan announced a cease and desist order against David Grammer of Macon and Jana Baxter of Columbia.
Officials say Grammer and Baxter allegedly raised more than $2 Million from at least 30 investors in Missouri, North Carolina, Florida and Australia.
Records obtained by the securities division of the Secretary of State's office indicate that the two used the money to pay for personal items, including vehicles, farm equipment, mortgage payments, merchandise from retail stores and adult entertainment website charges.
Grammer and Baxter have 30 days to request a hearing and fight the allegations.