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5:24 pm
Thu May 16, 2013

Koster wants to track ex-Mamtek CEO with GPS

Credit Brian Turner / Flickr

Missouri prosecutors want a judge to let them keep closer tabs on the former head of a failed artificial sweetener plant in Moberly.

Attorney General Chris Koster's office said Thursday it has filed a motion in St. Charles County Circuit Court seeking to monitor ex-Mamtek CEO Bruce Cole with a wearable GPS device.

Cole is under house arrest in his home state of California awaiting a Missouri trial on felony fraud and forgery charges. His bond was reduced from $500,000 to $100,000 in March.

The Mamtek project was financed with $39 million in bonds issued by the city of Moberly's Industrial Development Authority. The project collapsed after Cole's company missed a bond payment in August 2011.

A hearing is scheduled Monday on a change of venue from Randolph County.