Former Mamtek CEO sentenced to seven years in fraud case

A former executive has been sentenced to seven years in prison for defrauding Moberly, the state and investors out of millions of dollars over a factory that was supposed to create 600 jobs but was never built.

Former Mamtek CEO Bruce Cole pleaded guilty in September to one count of theft and two counts of securities fraud stemming from his failed promise to bring to Moberly a plant to produce artificial sweetener. Seven years was the maximum sentence for Cole under the plea deal.

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