FOR IMMEDIATE RELEASE
February 2, 2016
Contact: Stephanie Fleming, (573) 526-0949
Kander Recovers $55,000 for Scammed Investors
Jefferson City, Mo. — Secretary of State Jason Kander today announced he has recovered $55,000 in restitution for eight investors. Kander’s office alleges Joel Cansler offered and sold unregistered securities to six Missouri residents and two Wyoming residents about investment opportunities with Go Up, Co. and MOO, Inc.
“I’m pleased my office was able to help make these victims whole again,” Kander said. “No matter how good an investment opportunity sounds, I encourage all Missourians to call my office to check the registration status of the individual and the security being offered. One quick call to the Investor Protection Hotline could be the difference in protecting your hard-earned savings.”
According to the consent order, Cansler commingled investor funds with his personal funds and used half of investors’ funds for personal expenditures, including cash withdrawals and payments for credit cards, utilities, to stores including Hy-Vee, Sam’s Club, Costco and restaurants.
The order alleges Cansler, on behalf of Go Up and MOO, offered and sold subscription agreements including financial information and services, as well as self-betterment projects through multi-level marketing strategy. This form of marketing is used when companies encourage current employees to recruit others, and a percentage of the recruits’ sales will be paid to the recruiters.
Documents Cansler provided to investors allegedly showed others had been attracted to start their home-based business with Go Up, and a large number of industry “leaders” were already committed to assist Go Up in its expansion.
Neither Cansler nor his corporations were registered with the secretary of state’s office. None of the investors received a return on their investment.
For more information, Missourians can call the toll-free Investor Protection Hotline at (800) 721-7996 or visit www.MissouriSafeSavings.com.
Visit www.sos.mo.gov to learn more about the Office of the Missouri Secretary of State.