Moberly’s public enemy number one might be staying in Missouri for a while.
A Randolph County judge denied former Mamtek CEO Bruce Cole’s bond reduction request at his arraignment on Monday. Cole arrived in Randolph County over the weekend after dropping an extradition fight in his home state of California.
Prosecutors accuse Cole of stealing money and defrauding investors in a 39-million dollar bond deal intended to build a factory for the failed sweetener company. They claim he used some of the cash to pay the mortgage on his Beverly Hills home.
The judge ordered a bond investigation for Cole, which typically happens when a defendant can’t meet the posted bond in a case. That report is due back by November 26th.