Stock Sale Approved for Mustang Ranch: The...

Stock Sale Approved for Mustang Ranch: The Nevada Securities Division approved the sale of stock by a company trying to raise $17 million to buy controlling interest in Mustang Ranch, the state’s largest brothel. Mustang Ranch Inc. will be permitted to sell the shares at $10 apiece. The proceeds would be used to buy a 60% interest in the brothel, which is just east of Reno and owned by Joe Conforte, who would retain his 40% and continue to run the business. The underwriter, American Wallstreet Securities Inc. of Tampa, Fla., said 22 states have authorized sale of the stock.