Ex-Mamtek CEO ordered to wear GPS unit
A Missouri judge has ordered the former head of a failed artificial sweetener plant in Moberly to wear a GPS monitoring device while he awaits trial.
St. Charles County Circuit Judge Daniel Pelikan issued the order Monday during a hearing for Bruce Cole. Pelikan also tentatively scheduled the trial for February.
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.
