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Tag Archives: investing

Regions selling Morgan Keegan to Raymond James for $930M

BIRMINGHAM, Ala. — Regions Financial Corp. has entered into a stock purchase agreement to sell Morgan Keegan & Company Inc. and related affiliates to Raymond James Financial Inc., for $930 million. As part of the transaction, Morgan Keegan will also pay Regions a dividend of $250 million before closing, pending regulatory approval, resulting in total proceeds of $1.18 billion to ...

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Texans face prison for Ponzi scheme involving ex-NFL player

SAN ANTONIO, Texas — Two people in South Texas face up to 18 years in prison over a Ponzi scheme involving ex-NFL player T.J. Slaughter and other investors. Alan Keith Nelsen and Mary Alice Monteza pleaded no contest in San Antonio to setting up a fake international investing firm. Slaughter in 2009 filed a complaint about losing $150,000 to Castro ...

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SEC asks court to decide on compensation to Stanford victims

WASHINGTON — The Securities and Exchange Commission (SEC) has asked a federal court to determine whether the Securities Investor Protection Corp. should provide compensation to victims of a Ponzi scheme perpetrated by the Stanford Group. Sen. Thad Cochran (R-Miss.) has supported efforts to have the SEC and SIPC address the losses incurred by investors, including some from Mississippi. “I would ...

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State's action against Morgan Keegan workers settled

JACKSON — An administrative action against Morgan Keegan & Company employees and Morgan Asset Management employees, Brian B. Sullivan, Gary Stringer, and Michele Wood has been resolved with the State of Mississippi, according to the Secretary of State’s Office. No Mississippi Morgan Keegan brokers were involved in this action. The order resolving the case is available on the Secretary of ...

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MBJ EDITORIAL: Rate increase of 11.35 percent just the beginning in regard to Kemper

It was only a matter of time before Mississippi Power Company started raising the rates on its customers to pay for the $2.88 billion Kemper County coal plant. So, last week MPC filed documents with state regulators — the Public Service Commission — for a requested rate increase of 11.35 percent. The Commission has the ability to deny MPC’s request. ...

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Supreme court will hear Kemper Coal Plant arguments

The Mississippi Supreme Court will hear arguments from the Sierra Club challenging the state Public Service Commission’s approval of the project in Kemper County by Mississippi Power Co. Mississippi Power has started construction of the $2.4 billion coal plant. Oral arguments are scheduled for Dec. 14. The suit was filed and heard in Harrison County Chancery Court. Judge Jim Persons ...

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Lightfoot, GE investing in liquefied natural gas market

PASCAGOULA — Lightfoot Capital Partners, LP, has teamed up with GE Energy Financial Services to make a strategic investment in the liquefied natural gas market. Lightfoot Capital will make a direct investment and own a 48 percent interest in Arc LNG Holdings, LLC, which will own a 20 percent interest in Gulf LNG Energy’s terminal in Pascagoula. GE Energy Financial ...

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A.B. Data to distribute $200M to Morgan Keegan investors

JACKSON — The U.S. Securities & Exchange Commission and regulators from Tennessee, Alabama, Kentucky, Mississippi and South Carolina have appointed A.B. Data, Ltd. of Milwaukee, Wis., to distribute $200 million to investors from the regulators’ settlements with Morgan Keegan & Company and Morgan Asset Management. The settlements resulted from an investigation of seven proprietary bond funds sold by Morgan Keegan ...

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Ex-NFL player pleads guilty to business scam

JACKSON — A former National Football League player and Mississippi businessman has admitted to using investors’ money for a planned resort area in China and to buy himself a luxury van, a boat and other items. The Clarion-Ledger reports 48-year-old Jeffrey L. Walker, formerly of Madison, pleaded guilty yesterday in U.S. District Court to wire fraud and tax evasion. Last ...

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