Fri, Nov 27 2009
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Published June 22, 2009 02:56 pm - JEFFERSON CITY, Mo. (AP) — Missouri’s secretary of state has issued a cease and desist order against a father and son and their company alleging they operated a real estate investment scheme that has cost investors in four states more than $1.7 million. Mo. accuses firm of real-estate scamJEFFERSON CITY, Mo. (AP) — Missouri’s secretary of state has issued a cease and desist order against a father and son and their company alleging they operated a real estate investment scheme that has cost investors in four states more than $1.7 million.
Secretary of State Robin Carnahan says Morris A. Bird Sr. and M. Allen Bird Jr. sold promissory notes and other investments by promoting annual returns of up to 54 percent. Carnahan’s order says the family owned Chaparral I LLC took money from investors and disbursed them among real estate ventures either controlled by or affiliated with the Bird family. Carnahan says Chaparral has generated no income and has no ability to repay the promissory notes. 
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