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Former Mamtek CEO now jailed in Missouri

Monday, October 22, 2012 | 7:35 a.m. CDT; updated 10:32 a.m. CDT, Monday, October 22, 2012

MOBERLY — The former CEO of a proposed sweetener facility is in jail in Missouri after giving up his fight against being extradited from California.

Ex-Mamtek U.S. Inc. head Bruce Cole faces fraud and stealing charges after plans to build a sweetener plant in Moberly collapsed. Prosecutors say he used some of the money from a $39 million bond to avoid foreclosure on his Beverly Hills home.

The Columbia Daily Tribune reported that Cole arrived at the Randolph County Jail in Moberly Saturday. He is being held on $500,000 bond as he awaits trial on one felony count of stealing and four counts of securities fraud.

Construction on the Moberly plant stopped when a bond payment was missed last year.


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