mamtek

Business
8:13 am
Fri December 14, 2012

Judge denies Mamktek CEO lower bond

Flickr steakpinball

A Randolph County judge has refused to lower the $500,000 cash bond for the former CEO of a failed factory project in Moberly who is facing felony fraud charges.

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Crime
5:40 pm
Wed December 5, 2012

Cameras allowed in court for Mamtek case

Flickr steakpinball

A central Missouri judge will allow media to have cameras, audio and video recording during court appearances by the former head of an artificial sweetener company now facing charges of theft and securities fraud.

Bruce Cole was chairman and CEO of Mamtek U.S. Inc., which received $39 million in industrial development bonds from the city of Moberly to build a sweetener plant. Construction stalled after a bond payment was missed. Authorities accuse Cole of using bond revenues for personal purposes and misleading investors.

Business
5:20 pm
Wed October 24, 2012

Low interest in Mamtek leftovers at Mo. auction

Keith Burtis Flickr

An auction of assets left from a failed artificial sweetener factory in Moberly is drawing curious onlookers but few big buyers.

The auction of Mamtek U.S. property drew more than 20 prospective bidders Wednesday morning to a Moberly hotel ballroom, joined by online participants.

Buyers sought deals on individual pieces of equipment owned by Mamtek, but no one submitted a bid for the company's real estate or its intellectual property.

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Business
7:59 am
Wed October 24, 2012

Mamtek leftovers go on sale at Moberly auction

File Photo Flickr

The northern Missouri artificial sweetener plant project that turned sour when its financing collapsed last year is holding an out-of-business sale.

Mamtek U.S. received $39 million of industrial development bonds from the city of Moberly and could have earned up to $17 million of state tax incentives to build the factory. Construction ceased on the partially complete factory after Mamtek missed a bond payment in August 2011. Former CEO Bruce Cole faces fraud and stealing charges and remains in the Randolph County Jail awaiting trial.

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Crime
11:16 am
Tue October 23, 2012

Former Mamtek CEO granted Missouri public defender

Joe Gratz Flickr

The former CEO of a failed sweetener facility is back in Missouri to face charges that he spent public money intended for the planned Moberly factory for his personal use.

Ex-Mamtek U.S. Inc. head Bruce Cole faces fraud and stealing charges after plans to build the plant collapsed. Prosecutors say he used some of the money from a $39 million bond to avoid foreclosure on his Beverly Hills home.

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Crime
7:56 am
Mon October 22, 2012

Former Mamtek CEO now jailed in Missouri

The former CEO of a proposed sweetener facility is in jail in Missouri after giving up his fight against being extradited from California.

Ex-Mamtek U.S. Inc. head Bruce Cole faces fraud and stealing charges after plans to build a sweetener plant in Moberly collapsed. Prosecutors said he used some of the money from a $39 million bond to avoid foreclosure on his Beverly Hills home.

PM Newscasts
6:58 pm
Wed October 3, 2012

Newscast for October 3, 2012

Regional news coverage from the KBIA newsroom, including:

  • More Akin abortion remarks stir criticism
  • Sweetener company CEO headed back to Missouri
  • Schaefer, Still square off in debate on MU campus
  • McCaskill says she raised $5.8M for Mo. Senate bid
Business
5:52 pm
Wed October 3, 2012

Sweetener company CEO headed back to Missouri

Last month, Missouri Attorney General Chris Koster announced that Mamtek CEO Bruce Cole was arrested in California
Kristofor Husted KBIA

Missouri officials say the former head of an artificial sweetener company has agreed to return from California to face charges of theft and securities fraud stemming from a failed factory project.

Bruce Cole was chairman and CEO of Mamtek U.S. Inc., which received $39 million of industrial development bonds from the city of Moberly to build a sweetener plant.

Cole is charged in Missouri with using bond revenues to avoid foreclosure on his Beverley Hills home and misleading investors about his company's financial health.

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Mamtek
5:57 pm
Thu September 27, 2012

Former Mamtek CEO Fighting Extradition To Missouri

Orange County, California, Sheriff's Dept.

Originally published on Thu September 27, 2012 5:52 pm

The former CEO of Mamtek is fighting extradition to Missouri.

At a court hearing today in Santa Ana, California, Bruce Cole refused to be extradited, which means that he can’t be sent back to Missouri unless the Governor of California asks the court to order it.  A spokeswoman for the Missouri Attorney General’s office says that request is being expedited.

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Politics
11:20 am
Tue September 18, 2012

UPDATE: Former CEO of Mamtek arrested, faces criminal charges

With the old Mamtek site in Moberly, Mo., as a backdrop, Attorney General Chris Koster announced that Mamtek CEO Bruce Cole was arrested this morning in California.
Kristofor Husted KBIA

UPDATE: 3:00 pm, Tuesday September 18:

Former Mamtek CEO Bruce Cole was arrested at his home in Dana Point, California on Tuesday after the Missouri Attorney General charged him with theft and fraud.

Missouri Attorney General Chris Koster told reporters that Bruce Cole -- the former CEO of the now defunct company Mamtek -- has been charged with stealing and four counts of securities fraud.

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Politics
9:21 am
Mon April 30, 2012

State Senate considers bill requiring deeper business background checks

A bill currently before the Mo. Senate would require deeper background checks of businesses looking to set up shop in the Show-Me State.
File KBIA

The State Senate is considering legislation aiming to prevent economic disasters like Mamtek’s failed factory project in Moberly.

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Politics
9:25 am
Thu March 22, 2012

Lawsuit filed over Mamtek controversy

Columbia-based Shelter Insurance has sued a bond underwriter for $390 million over municipal bonds issued by the city of Moberly for the failed Mamtek USA sweetener plant project.

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AM Newscasts
9:19 am
Thu March 22, 2012

Newscast for March 22, 2012

Regional news coverage from the KBIA News room, including:

  • House legislators examine new death penalty rules in Missouri
  • The controversy surrounding failed development of sweetener factory Mamtek in Moberly continues.
  • Senate leaders endorse bill making disturbances of religious worship a crime.
Politics
10:40 am
Fri January 20, 2012

Insider testifies on Mamtek, cites concerns before the deal was closed

Governor Jay Nixon announcing the Mamtek plas in 2012
Rebecca Wolfson KBIA

A patent attorney who vouched for a Chinese artificial sweetener factory has testified that he became aware of concerns about the Chinese site before a deal closed to finance the construction of a similar plant in Moberly.

Los Angeles attorney Michael Wise testified yesterday by video conference after being subpoenaed by a special Missouri House committee investigating the failure of Mamtek U.S. Incorporated, which had been offered state and local incentives to open a factory in Moberly.

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Business
5:10 pm
Wed December 28, 2011

Legislation aims to prevent another Mamtek fiasco

Governor Nixon was part of the ceremony announcing Mamtek's plans in July 2010.
Rebecca Wolfson KBIA News

A Republican state Representative from southwest Missouri has introduced legislation he says will help prevent another Mamtek from happening in the state.

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