Senate Committee Digs Deeper into Failed Business Venture Mamtek
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Senate Committee Digs Deeper into Failed Business Venture Mamtek

Date: October 11, 2011
By: Matt Evans
State Capitol Bureau

Intro: 
State agency officials were grilled by a Senate committee on why it approved bonds for a Chinese company that has since abandoned the project.
RunTime:  0:39
OutCue:  SOC

Wrap: As the Senate Committee on Governmental Accountability digs even deeper into the state's involvement in the failed U.S.-China business venture Mamtek, Republican Senator Kurt Schaefer asks some tough questions.

Actuality:  SCHAEF01.WAV
Run Time:  00:09
Description: "Schaefer: So then once you had that information what was the due diligence that was actually done with it? Silence DED Rep: Can.. Can you repeat.. Schaefer: Sure, let's step back."

Schaefer asked representatives from Missouri's Department of Economic Development that same question nearly ten times - and never got an answer.

Actuality:  SCHAEF02.WAV
Run Time:  00:01
Description: "I would like to have more information."

Senators will continue to look even deeper into the state's role in the project.

Reporting from the state Capitol, I'm Matt Evans.

Intro: 
Former St. Louis County Executive Gene McNary highlights a little-known visa-for-investment program a failed Chinese company used in Moberly, Missouri.
RunTime:  0:43
OutCue:  SOC

Wrap: McNary was the Commissioner of the Federal Immigration Agency when the federal program started decades ago.  He says it's intended to get foreign investments in American businesses, but Republican Senator Kurt Schaefer compares it to selling U.S. citizenship.

Actuality:  SCHAEF03.WAV
Run Time:  00:16
Description: "I'm trying to figure out where the safeguards are to make sure we're not doing anything more than simply selling U.S. citizenship to three generations of potential buyers who just happen to have $500,000 or $1 million depending on where you are."

The only center to apply for those visas in the state of Missouri is the Mamtek Regional Center and lists the former Mamtek CEO as the only contact.  

Reporting from the state Capitol, I'm Matt Evans.

Intro: 
State agency officials were grilled by a Senate committee on why they failed to stop approval of bonds issued to a Chinese company in Moberly, Missouri, that has since abandoned the project.
RunTime:  0:35
OutCue:  SOC

Wrap: During a Senate Committee on Governmental Accountability hearing, Republican Senator Kurt Schaefer asked representatives from the Department of Economic Development some tough questions.

Actuality:  SCHAEF04.WAV
Run Time:  00:07
Description: "I'm just asking you before you gave the approval to commit these bonds, what was the due diligence? (Silence)"

Schaefer asked that same question nearly ten times and got a similar response.

Schaefer and the other Senators on the committee will continue to look even deeper into the the state's role of the failed U.S.-China business venture Mamtek.

Reporting from the state Capitol, I'm Matt Evans.


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