mamtek ceo

mamtek
Kristofor Husted / KBIA

Construction contractors who haven't been paid for work on a failed artificial sweetener plant in Moberly will be in court this week to discuss receiving the money they are owed.

The contractors did preliminary work for the Mamtek plant, which began construction in 2010. But ended in 2011 after the company missed its first bond payment.

The former CEO , Bruce Cole of California, was sentenced to seven years in prison in November for stealing more than $700,000 from the project.

The former CEO of a company that announced it would open an artificial sweetener plant in a small north Missouri town, but never did, has pleaded guilty to three felony counts connected to the scandal.

In 2010, Mamtek CEO Bruce Cole persuaded city leaders in Moberly to issue $39 million in bonds to build the plant, which was to employ 600 people. Shortly afterward, the state's Economic Development Department kicked in $17 million in tax credits for the project -- however, those credits were never used.

Missouri Secretary of State Jason Kander is taking action against a financial management company connected to the failed Mamtek artificial sweetener plant in mid-Missouri.

In his role as Secretary of State Jason Kander also serves as Missouri’s chief securities regulator.

He’s accusing Morgan Keegan, a Memphis-based firm of helping defraud Missourians based on a list of falsehoods, including the claim the Mamtek held several production patents.  

Joe Gratz / Flickr

The former CEO of a failed artificial sweetener facility in Moberly has waived his right to a preliminary hearing on charges of theft and securities fraud.