Monday, July 28, 2014





Ex-Mamtek CEO waives hearing on fraud charges


March 17. 2013 2:58AM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) The former CEO of a failed artificial sweetener facility in Moberly has waived his right to a preliminary hearing on charges of theft and securities fraud.


Bruce Cole appeared in court Thursday as his attorney announced an agreement with prosecutors to forego the preliminary hearing.


A judge set an arraignment for Jan. 23 and rejected Cole's request to lower his $500,000 bond.


Cole was head of Mamtek U.S. when it received $39 million of industrial development bonds from Moberly to build an artificial sweetener facility.


Gov. Jay Nixon had said Mamtek could employ 600 people. But the company's finances fell apart in 2011 before construction finished.


One of the charges alleges that Cole used some of the bond revenues to avoid foreclosure on his home in Beverly Hills, Calif.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds