Bruce K. Cole

Bruce K. Cole, a Democratic candidate for Comptroller General, has a documented history of felony convictions and civil fraud judgments related to his time as CEO of Mamtek U.S., Inc. In September 2012, the SEC filed a complaint alleging that Cole orchestrated a scheme to defraud investors of a $39 million municipal bond offering intended for a Moberly, Missouri, sucralose factory. The SEC alleged Cole directed the creation of false documentation for a nonexistent company, Ramwell Industrial Inc., to justify fictitious expenses. Cole subsequently diverted over $900,000 of bond proceeds to his wife, Nanette Cole, for personal expenses, including mortgage payments and credit card debt. A federal judge later ruled there was overwhelming evidence that the Coles fraudulently diverted $1.3 million from bond funds. On September 2, 2014, in the Eleventh Judicial Circuit of Missouri (Case No. 1311-CR01981), Cole pleaded guilty to two counts of felony securities fraud and one count of felony stealing. He was sentenced to three concurrent seven-year prison terms. Following these convictions, the SEC suspended Cole from practicing before the Commission on December 2, 2016, pursuant to Rule 102(e)(2).