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Pecos Enterprise in Pecos, Texas

22 Jul 1976

Page 5

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Newspaper

Pecos Enterprise

Location

Pecos, Texas, United States of America

Date

Jul 22, 1976

Page

5

Warning Issued On New Farmers Cooperative Swindle

The Texas State Securities Board warned farmers and agriculture businesses to beware of a swindle linked to new farmers cooperatives. Similar schemes have appeared in about 20 central states. Promoters form a coop, list local citizens as officers, and recruit members who buy 20 year savings certificates about 350 dollars annually. Funds go to promoters as commissions, with little to no real assets, and management contracts with related firms follow to skim remaining money.

MENTIONED IN THIS ARTICLE

Texas State Securities Board Farmers’ Cooperative Associations Texas United States
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Warning on Co Op Schemes Targeting Farmers

The Texas Securities Commissioner warns farmers about new cooperative schemes that rely on credit purchases and vague promises, noting some operators try to disappear with money. Honest cooperatives exist, but dubious outfits are feared to spread from neighboring states. Report suspected schemes to the State Securities Board in Austin at PO Box 13167 Capitol Station 78711 or (512) 475-4561.

MENTIONED IN THIS ARTICLE

Texas Texas Securities Commissioner State Securities Board Office Austin P.O Capitol Station
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Also Mentioned on This Page

Kimberly-Clark Discount Foods Delsey FEMS KOTEX Clio IN Kotex Light Wvw Freedom
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