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Mamtek case moved to St. Charles County

Wednesday, April 3, 2013 | 7:40 p.m. CDT

COLUMBIA — The criminal case against the CEO of a failed artificial sweetener facility has been moved to St. Charles County from Randolph County, where the plant was to have been built.

The Columbia Daily Tribune reports a judge granted the change of venue this week for Bruce Cole because of publicity in central Missouri about the project's collapse.

Cole, of Beverly Hills, Calif., is charged with theft and securities fraud stemming from the 2011 financial collapse of a Mamtek U.S. project in Moberly.

The city issued $39 million in industrial development bonds toward construction of the facility, which was never built. Among other things, Cole is accused of diverting bond revenues to avoid foreclosure on a California home. He had been held on $500,000 bond until a judge reduced the amount last week.

 


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