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Former Mamtek CEO sentenced for theft and fraud

The man behind the failed Mamtek plant in Moberly learned his punishment Monday afternoon.

Bruce Cole was sentenced to 7 years in prison, the maximum possible.

Cole addressed the court to say he was devastated that he let people down, and said his life will never be the same.

Cole claimed he didn’t know he was breaking the law.

Attorneys with the Attorney General’s Office said Cole has not taken responsibility for his actions and that Cole took advantage of investors’ trust.

Cole’s attorney said, “We were hoping the judge would impose a lighter sentence on Mr. Cole. I think when you look at the totality of this case, when you look at the complexity of the difficulty creating this company and the risk investment nature of this company…we wish the judge would have given that more consideration.”

Cole pleaded guilty to theft and fraud in September. Cole was accused of lying to the City of Moberly when he requested millions of dollars.

The city thought the money was to pay a company in China to train the future Mamtek staff to make artificial sweetener.

Instead, Cole used some of the money for personal use, and Mamtek was never built.

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