Former sweetener company CEO pleads guilty to theft, fraud charges over failed Missouri plant
ST. CHARLES, Mo. - The man who persuaded a rural Missouri town and the state to invest millions in bonds and incentives for an artificial sweetener plant that never materialized pleaded guilty Tuesday to three felony charges.
Bruce Cole pleaded guilty to two counts of securities fraud and one count of theft in state court. Sentencing is set for Nov. 3. Under the plea agreement, he faces 5 to7 years in prison.
Cole was CEO of Mamtek U.S. He convinced Moberly, Missouri, to issue $39 million in bonds for a plant Cole said would employ 600. The state authorized up to $17 million in incentives. The plan collapsed financially before construction finished.
Attorney General Chris Koster filed charges in 2012, accusing Cole of diverting at least $700,000 to forestall foreclosure of his California home.
Read more Business News
- Joe Rich wildfire containedKelowna - 7:36 am
- Back to schoolBC - 6:47 am
- Castanet's weekly weatherCentral Okanagan - 5:00 am
- House fire in ArmstrongVernon / N. Okanagan
|QHR Technologies Inc||1.31||-0.06|
|Anavex Life Sciences||0.214||-0.009|
|Copper Mountain Mining||2.37||-0.29|
|Sunrise Resources Ltd||0.02||-0.005|
|Mission Ready Services||0.27||-0.02|
“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...
Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...
There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...