Missouri Secretary of State Robin Carnahan today announced that officials in her office are seeking sanctions against Robert Corder, a Campbell, Mo., man who allegedly misused his investors’ savings and lied to investigators.


Missouri Secretary of State Robin Carnahan today announced that officials in her office are seeking sanctions against Robert Corder, a Campbell, Mo., man who allegedly misused his investors’ savings and lied to investigators.

In 2007, Corder convinced five Florida residents to invest with his company, R.C. Transport, LLC (“RCT”). He allegedly told the investors that their $180,000 would turn into $680,000 within 90 days, that their investment would be backed by U.S. Treasury bills, and that the investment was 100-percent secure with no risk involved.

Instead of investing the $180,000, Corder deposited the funds into his bank account for RCT, according to the Cease and Desist Order. He is charged with using the money from the RCT account to pay himself $83,000 and “Corder Trucking” $67,000. He also allegedly spent more than $30,000 on airline tickets and hotel rooms, and for purchases in restaurants, department stores and convenience stores.

Prior to this action, Corder had already settled a Missouri Securities Division investigation in 2008. In that order, Corder stated that RCT had not received investments from any investors, which is contradicted by the new order – investors said they gave Corder their money in 2007. Filing a false statement in a Securities Division proceeding is a violation of the Missouri Securities Act.

In the order issued today, the Securities Division is seeking to require Corder, his company and the other respondent, Michael A. Santiago (a/k/a Mike Santee) to repay their investors. They also face more than $100,000 in possible penalties for multiple violations of Missouri securities law.

For more information regarding investments and fraud protection, or for information regarding a company or representative, visit the Secretary of State’s online Investor Protection Center at www.MissouriSafeSavings.com or call the toll free Investor Protection Hotline at 1-800-721-7996.