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Former Mamtek CEO Bruce Cole granted a change of venue

An Adair County judge has approved a change of venue for the former CEO of Mamtek accused of stealing and fraud.

On Wednesday, Circuit Judge Russell Steele granted the venue change for Bruce Cole’s trial.

The trial will now take place in St. Charles County, but Randolph County Prosecutor Mike Fusselman says neither a court date nor judge has been set yet.

Cole faces one theft charge and four counts of securities fraud stemming from the financial collapse of a Mamtek U.S. facility in Moberly in 2011.

Moberly had issued $39 million in industrial development bonds to help finance the construction of the facility. Among other things, Cole is accused of diverting bond revenues to avoid foreclosure on a home in Beverly Hills, Calif.

Cole is currently out on bail and wearing an electronic monitoring device.

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