The Joplin Globe, Joplin, MO

Business

March 26, 2013

Former CEO of Mamtek released from Missouri jail

MOBERLY, Mo. — The former CEO of a failed artificial sweetener facility has been released from a Missouri jail after posting $10,000 bail while awaiting trial on theft and fraud charges.

Officials at the Randolph County jail say Bruce Cole was released Monday. He faces one theft charge and four counts of securities fraud stemming from the financial collapse of a Mamtek U.S. facility in Moberly in 2011.

Moberly had issued $39 million in industrial development bonds to help finance the construction of the facility. Among other things, Cole is accused of diverting bond revenues to avoid foreclosure on a home in Beverly Hills, Calif.

He had been held on $500,000 bond until a judge reduced the amount last week.

 

1
Text Only
Business
Poll

Would you use a community safe room when the area is under a tornado warning?

Yes.
No.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Deadly Avalanche Sweeps Slopes of Mount Everest Police Arrest Suspect in Highway Shootings Drought Concerns May Hurt Lake Tourism Vermont Goat Meat Gives Refugees Taste of Home Calif. Investigators Re-construct Fatal Bus Cras Mayor Rob Ford Launches Re-election Campaign Appellate Court Hears Okla. Gay Marriage Case Author Gabriel Garcia Marquez Dead at 87 Beau Biden Plans 2016 Run for Del. Governor Chelsea Clinton Is Pregnant Horseless Carriage Introduced at NY Auto Show Obama Hopeful on Ukraine, Will Watch Russians Flamingo Frenzy Ahead of Zoo Construction Crew Criticized Over Handling of Ferry Disaster Agreement Reached to Calm Ukraine Tensions Raw: Pope Francis Performs Pre-easter Ritual Boston Bombing Survivors One Year Later Sister of Slain MIT Officer Reflects on Bombing