Scammer targets former Co-Mo Electric members
Tue, 26 Mar 2013 21:01:43 GMT — Someone claiming to be a Co-Mo Electric Cooperative employee or representative has been calling former members about unclaimed capital credits. The caller asks for a "finder's fee" to be sent to a relative of his.These credits are allocated by the board of directors to be returned to members when the cooperative has extra margins at the end of the year, after some of that money has been invested into the electrical system.A list of unclaimed capital credits is published annually in Rural Missouri magazine, the Tipton Times and on the Co-Mo Electric website. Capital credits may go unclaimed when a member leaves and doesn't provide a forwarding address or phone number.CEO and general manager Ken Johnson said the cooperative will never ask a member for money in return for unclaimed capital credits."It appears this individual is targeting former members who are owed the largest amount of unclaimed capital credits, and we will take whatever legal action we can to make sure this stops," he said.Members and former members should never send money in return for capital credits to anyone claiming to represent the cooperative."Thatâ??s not how we work," Johnson said. "In fact, if we did have a phone number for the former member, we wouldnâ??t have to put them on the unclaimed capital credits list because we could call them ourselves, get an updated address and send them what they are owed."Any member or former member who thinks he or she might have been targeted by this scam should call the Co-Mo customer service department at (800) 781-0157."Because we will be pursuing legal action, we want to make sure we hear from anyone who was targeted so the authorities can understand the scope of this scam," Johnson said.