Former Mamtek official to be released from prison next year

(AP) – A business consultant who sold Missouri on a sweetener
manufacturing project that never materialized will be released from prison next
year.The Columbia Daily Tribune reports Missouri Department of Corrections
spokesman David Owen said Tuesday that Bruce Cole will be released next June.

Cole was convicted in 2014 of stealing from funds the city of Moberly borrowed
to build an artificial sweetener factory. He was sentenced to seven years in
prison for stealing and securities fraud.

In July 2010, then-Gov. Jay Nixon and Moberly officials announced Cole’s
company, Mamtek, would receive $39 million in bond financing and $17.6 million
in state incentives to build a factory making sucralose. About 600 jobs were
promised. A Tribune investigation later found Cole diverted $6.6 million from
the bond funds for his personal use.

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