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Ex-Mamtek CEO pleads guilty to theft, fraud

Ex-Mamtek CEO pleads guilty to theft, fraud

ST. CHARLES, Mo. (AP) — The male who swayed a farming Missouri city and a state to deposit millions in holds and incentives for an synthetic sweetener plant that never materialized pleaded guilty Tuesday to 3 transgression charges.

Bruce Cole pleaded guilty to dual depends of holds rascal and one count of burglary in state court. Sentencing is set for Nov. 3. Under a defence agreement, he faces 5 to7 years in prison.

Cole was CEO of Mamtek U.S. He assured Moberly, Missouri, to emanate $39 million in holds for a plant Cole pronounced would occupy 600. The state certified adult to $17 million in incentives. The devise collapsed financially before construction finished.

Attorney General Chris Koster filed charges in 2012, accusing Cole of ludicrous during slightest $700,000 to hinder foreclosure of his California home.

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