Judge Sets Bond for Mamtek CEO at $500K

6 years 10 months 13 hours ago Friday, September 21 2012 Sep 21, 2012 Friday, September 21, 2012 12:21:47 PM CDT September 21, 2012 in News
By: Associated Press

COLUMBIA - A central Missouri judge has set bond at $500,000 for a failed artificial sweetener company's CEO who was charged this week with theft and securities fraud.

Mamtek CEO Bruce Cole is accused of using bond revenues to avoid foreclosure on his Beverly Hills, Calif., home and misleading financiers about Mamtek's troubled operations. He's being held in Orange County, Calif., and faces five felonies upon his return to Missouri.

The Columbia Daily Tribune reports Cole is being held in Orange County, Calif., on an extradition requisition sent Thursday. Randolph County Associate Circuit Judge Cynthia Suter set Cole's Missouri bond at $500,000 cash.

In addition to the theft charge, Cole also faces four counts of securities fraud related to the bonds.

His next court appearance is Oct. 26.

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