Authorities: St. Charles company scammed people out of thousands

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by Dan Greenwald / KMOV.com

KMOV.com

Posted on February 28, 2014 at 6:13 PM

Updated Friday, Feb 28 at 6:40 PM

(KMOV.com) – The Missouri Secretary of State shut down Cristol Enterprises after the owners allegedly scammed people out of thousands of dollars.

Authorities said Christopher Cristea, of St. Charles and David Tolle of Wentzville conned people into investing into the company.  The two promised investors they would receive a very generous return on their investment. One financial advisor said that should have been a big red flag.

“They mention the word guaranteed,” Matthew Crews said. “Nobody's crystal ball works very well so you really can't guarantee.”

Secretary of State Jason Kander said the two began seeking investors in August 2009, telling them their money would go towards buying equipment for mines the company owned in Arizona, Oregon, and the African country of Liberia.

"One thing we know about mining operations, is they are risky investments, could be a high return but could be a zero return where you lose all your money," Crews said.

Kander said you can contact his office to make sure if a business is legitimate.

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