Former Mamtek CEO sentenced to 7 years

3 years 11 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
COLUMBIA - Sen. Claire McCaskill spoke about health care in Columbia on Friday at Laborers Local 955, as part of... More >>
6 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 7:35:00 PM CDT October 19, 2018 in News
COLUMBIA - After realizing the underrepresentation of Hispanic business owners in mid-Missouri, three Hispanic professionals established a group of 12... More >>
7 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 5:49:00 PM CDT October 19, 2018 in News
COLUMBIA - This is the last week of the regular season and it's a cold one. Our game of... More >>
8 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 5:20:00 PM CDT October 19, 2018 in Friday Night Fever
COLUMBIA - Two Midwest companies issued separate food recalls this week for bacterial contamination concerns. Hy-Vee said its supplier,... More >>
8 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 4:53:00 PM CDT October 19, 2018 in News
CAMDEN (AP) — Toxicology tests show that a boater was drunk when he slammed into a bluff at Missouri's Lake... More >>
10 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 3:41:35 PM CDT October 19, 2018 in News
COLUMBIA - The Legion of Black Collegians and the FourFront Marginalized Student Council held a solidarity walk Friday to show... More >>
10 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 3:39:00 PM CDT October 19, 2018 in News
JEFFERSON CITY - The Missouri State Medical Association (MSMA), along with multiple medical associations, reaffirmed their opposition to the three... More >>
10 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 2:50:00 PM CDT October 19, 2018 in News
JEFFERSON CITY - For the fourth consecutive year, Project Homeless Connect provided services Friday for people who are experiencing homelessness... More >>
11 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 2:39:00 PM CDT October 19, 2018 in News
DES MOINES, Iowa (AP) — The Mega Millions jackpot has soared to an estimated $1 billion, as the second-largest lottery... More >>
13 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 12:10:00 PM CDT October 19, 2018 in News
JEFFERSON CITY - Police want the public's help finding a man who allegedly ran from a traffic stop after hurting... More >>
14 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 11:42:00 AM CDT October 19, 2018 in News
COLUMBIA - Two MU residence halls and an atrium were officially dedicated on Friday honoring three former MU students. Lucile... More >>
15 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 10:09:00 AM CDT October 19, 2018 in News
WASHINGTON (AP) — Just 1 in 4 people thinks Brett Kavanaugh was completely honest when as a Supreme Court nominee... More >>
15 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 9:58:13 AM CDT October 19, 2018 in News
(CNN) -- The US moved closer to acknowledging the role of Saudi Arabia in journalist Jamal Khashoggi's apparent death as... More >>
16 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 9:36:16 AM CDT October 19, 2018 in News
RANDOLPH COUNTY - MoDOT announced they will close Randolph County Route CC from Route FF to Route K on Monday,... More >>
17 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 8:30:00 AM CDT October 19, 2018 in News
FLORISSANT (AP) — Authorities have arrested a suburban St. Louis student after finding a loaded gun and a razor inside... More >>
17 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 7:46:15 AM CDT October 19, 2018 in News
ST. CHARLES, Mo. (AP) — A Missouri man has been sentenced to life in prison in the 1984 beating death... More >>
18 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 7:10:00 AM CDT October 19, 2018 in News
KANSAS CITY, Mo. (AP) — A Kansas City doctor has been sentenced to a year in federal prison for his... More >>
18 hours ago Friday, October 19 2018 Oct 19, 2018 Friday, October 19, 2018 6:51:00 AM CDT October 19, 2018 in News
ST. LOUIS - Democratic Sen. Claire McCaskill and Republican opponent Josh Hawley were sometimes heated and often derisive as they... More >>
1 day ago Thursday, October 18 2018 Oct 18, 2018 Thursday, October 18, 2018 9:02:00 PM CDT October 18, 2018 in News
Columbia, MO
Broken Clouds 53°
2am 52°
3am 51°
4am 50°
5am 48°