Former Mamtek CEO sentenced to 7 years

3 years 6 months 1 week ago Monday, November 10 2014 Nov 10, 2014 Monday, November 10, 2014 3:56:00 PM CST November 10, 2014 in News
By: Jenna Middaugh, KOMU 8 Digital Producer and Conner Handel and Alex Brown, KOMU 8 Reporters
loading

ST. CHARLES - A judge sentenced former Mamtek CEO Bruce Cole to seven years Monday.

Cole pleaded guilty to felony stealing and fraud in September 2014 after being arrested at his home in Dana Point, California in 2012.

Cole promised to build an artificial sweetener plant in Moberly that would have brought 600 jobs and new revenue to the city. A joint investigation by the Attorney General's office and Randolph County Prosecuting Attorney Mike Fusselman revealed Cole used $700,000 of financing for personal use, including making mortgage payments on his Beverly Hills home.

One Moberly resident said this is the city council's fault.

"It embarrassed the city and it embarrassed the city council," Marvin King said. "They're ashamed to talk about it."

Moberly's City Manager Andrew Morris declined to speak to KOMU 8 News about his thoughts on Cole's sentencing.

"That process is what it is," Morris said. "We'll just let it go forward."

Other residents said they were disappointed the job opportunities did not come to fruition, as Mamtek never built the plant. 

"It's pretty much a waste, with what they did," Moberly resident Ronald Lebeck said.  "I know I was looking forward to trying to get a job."

Moberly resident Robert Lewis said he interviewed with Mamtek for a job and was grateful because it is hard for people in wheel chairs to find employment.

Lewis never received a job offer and said he was disappointed with the sentence.

"I don't think it's near enough," Lewis said. "If they doubled that, I still don't think it would be enough. He is a swindler and a con-man."

In December 2013, MFA Oil announced it would buy the vacant property where Cole's plant was supposed to go.

[Editor's note: This story has been updated to include more information.]

Related Stories

More News

Grid
List
BRUSSELS (AP) — Facebook CEO Mark Zuckerberg faces senior European Union lawmakers later Tuesday to answer questions about a... More >>
1 hour ago Tuesday, May 22 2018 May 22, 2018 Tuesday, May 22, 2018 5:22:00 AM CDT May 22, 2018 in News
COLUMBIA - The Columbia Police Department said it found a missing teen around 1 a.m. Tuesday. Authorities said Brice... More >>
2 hours ago Tuesday, May 22 2018 May 22, 2018 Tuesday, May 22, 2018 4:41:00 AM CDT May 22, 2018 in News
COLUMBIA - Columbia residents will have a chance to learn about - and talk about - climate change Tuesday night.... More >>
4 hours ago Tuesday, May 22 2018 May 22, 2018 Tuesday, May 22, 2018 3:00:00 AM CDT May 22, 2018 in News
COLUMBIA - An on-going rift between two east campus communities has come to a breaking point. Non-resident property owners want... More >>
11 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 7:29:00 PM CDT May 21, 2018 in Top Stories
KANSAS CITY (AP) — A Kansas City man who told authorities he was hearing "voices" when he wounded two... More >>
12 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 7:07:41 PM CDT May 21, 2018 in News
COLUMBIA - More than 670 motorcycles poured into the Phillips 66 gas station off I-70 as the "Run for the... More >>
13 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 6:05:00 PM CDT May 21, 2018 in News
JEFFERSON CITY - A new fire station is in store for east Jefferson City, and the city council will review... More >>
14 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 5:10:00 PM CDT May 21, 2018 in News
ST. LOUIS – The St. Louis Circuit Attorney's Office announced late Monday that a special prosecutor has been selected in... More >>
14 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 5:00:00 PM CDT May 21, 2018 in News
COLUMBIA - Checking the phone constantly, surfing Facebook first thing in the morning or right before bed, playing games like... More >>
15 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 3:58:00 PM CDT May 21, 2018 in News
COLUMBIA – The UM Board of Curators voted Monday to increase tuition by up to 2.1 percent for the 2018-2019... More >>
15 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 3:44:00 PM CDT May 21, 2018 in News
COLUMBIA – Students will leave class early on Tuesday as the 2017-2018 Academic Year comes to a close. The... More >>
15 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 3:28:00 PM CDT May 21, 2018 in News
CAMDEN COUNTY - The Missouri State Highway Patrol is investigating a boating crash that left three dead and two injured... More >>
15 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 3:20:00 PM CDT May 21, 2018 in News
COLUMBIA -Utility workers began surveying land on Clark Lane for a sidewalk project designed to improve community safety. "The... More >>
17 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 1:40:00 PM CDT May 21, 2018 in News
JEFFERSON CITY (AP) — A House investigatory committee has expanded its membership for a special session to determine whether... More >>
19 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 12:00:47 PM CDT May 21, 2018 in News
ROLLA (AP) — A Missouri University of Science and Technology student has been sentenced to seven years in prison... More >>
19 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 11:40:00 AM CDT May 21, 2018 in News
ST. LOUIS (AP) — Ameren Missouri is planning a 400-megawatt wind farm in rural northeast Missouri, creating... More >>
20 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 10:44:00 AM CDT May 21, 2018 in News
POPLAR BLUFF (AP) — Authorities say a man's body was found in southeast Missouri and the case appears to... More >>
22 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 8:48:00 AM CDT May 21, 2018 in News
COLUMBIA – With a new terminal on the way, comes more possible changes to Columbia Regional Airport. A public... More >>
23 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 7:55:00 AM CDT May 21, 2018 in News
Columbia, MO
Broken Clouds 59°
7am 62°
8am 66°
9am 70°
10am 74°