Oklahoma sues worm grower
Tuesday, April 15th 2003, 12:00 am
By: News On 6
(Oklahoma City-AP) -- The Oklahoma Securities Department is suing the nation's largest network of worm growers.
The agency seeks $14-million from Meeker-based B&B Worm Farms.
The securities department alleges B&B violated the state's Business Opportunity Sales Act for the second time in the past year.
It's also seeking civil penalties of $50,000 and forfeiture of improper gains.
B&B had about $18-million in sales last year. State regulators and a former B&B board member say that money went to fund an alleged Ponzi scheme.
The states of Kentucky and Mississippi have already stopped B&B from doing business there. B&B also is under investigation by the Wisconsin attorney general.