Mamtek CEO under GPS Surveillance

| May 20, 2013 | 6:04 pm
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The case against former Mamtek CEO Bruce Cole was heard in St. Charles County Monday which included a request from Missouri Attorney General Chris Koster.

The request from Koster’s office was for GPS monitoring to be imposed on Cole to ensure his appearance at his trial for four counts of securities fraud and one felony count of theft. The judge ordered Cole to comply with that order within 14 days. Cole was already under electronic surveillance but it is land based and does not track his whereabouts outside the home.

The court has set the trial date for February 24th. Cole’s Company Mamtek, was set to develop an artificial sweetener factory in Moberly. That project fell through when Mamtek failed to make a payment on bonds issued by the city to fund the project.

Cole is accused of misleading city leaders and using funds for the project for personal use including a large mortgage payment on a Beverly Hills Home.

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