UMB Bank says assets from a failed artificial sweetener facility in Moberly will be auctioned this fall.
The bank is the bondholder trustee for the central Missouri project that was to be operated by Mamtek U.S. Inc.
Moberly issued $39 million in bonds to finance construction of the plant, and the state offered about $17 million in incentives. Work stopped last fall on the partially built factory after Mamtek missed a bond payment to Moberly. No state incentives were paid.
Financial services firm Wells Fargo Advisors is investing $33 million to expand its operations in the St. Louis area. Missouri Governor Jay Nixon and St. Louis Mayor Francis Slay joined the company’s president and CEO Danny Ludeman Friday for the announcement at the company’s downtown headquarters.
Updated with comments for U.S. Attorney Richard Callahan and public safety director Eddie Roth.
The federal government is accusing a building inspector of the city of St. Louis for accepting bribes.
Anthony D. Davis was indicted on Wednesday. It was not made public until his arrest this morning.
The U.S. Attorney's office says Davis accepted more than $2,000 in cash payments in connection with his official duties, which include inspecting buildings and issuing permits. The two bribes allegedly occurred in July and August of last year.
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Valley Park mayor resigns
The embattled mayor of Valley Park has resigned. Nathan Grellner stepped down as the top official in the St. Louis County town on Thursday, submitting a written letter of resignation. Grellner has been under fire for questionable spending with a city credit card, for missing nearly every meeting since February, and for his arrest on suspicion of driving under the influence in a neighboring town in June.
At least a half-dozen people are behind bars in the St. Louis area following a nationwide crackdown on the sale of designer narcotics known as "bath salts" or K2.
The federal Drug Enforcement Agency coordinated the Wednesday operation known as "Log Jam." Overall, nearly 80 people were arrested, and more than 5 million packets of the synthetic drugs seized, along with tons of raw material. It was the first coordinated strike.