A complaint filed in federal bankruptcy court accuses former MAMTEK CEO Bruce Cole of intending to defraud the city of Moberly. The Columbia Daily Tribune says Cole used $30,000 of Moberly bond funds every month to rent and decorate an office in a stylish section of Beverly Hills, California, and to pay for other “inappropriate expenses” not related to the project. Creditors lawyer Bruce Strauss earlier told the court Cole had used more than $900,000 of Moberly’s bond money to avoid foreclosure on his Beverly Hills home. He’s asked the bankruptcy court to block the sale of Cole’s home, which is on the market for $6 million.
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