Executives of a Pennsylvania green energy company singled out for praise by Bill Clinton were arrested on fraud charges on Thursday in connection with an alleged Ponzi scheme.
The individuals are facing charges of wire fraud, securities fraud, and conspiracy over their roles in running a green energy company that authorities say was an elaborate $54 million Ponzi scheme, the Associated Press reported.
Prosecutors said the trio lied to investors that their “biochar” technology and “carbon-negative” housing in Tennessee made millions, but they had almost no earnings and used the money to repay earlier investors and for themselves.
The scam allegedly ran from 2005 until 2009, even after the Securities and Exchange Commission filed a civil lawsuit against Wragg and Knorr’s Mantria Corp. They were ordered in 2012 to pay $37 million each. […]More
The individuals are facing charges of wire fraud, securities fraud, and conspiracy over their roles in running a green energy company that authorities say was an elaborate $54 million Ponzi scheme, the Associated Press reported.
Prosecutors said the trio lied to investors that their “biochar” technology and “carbon-negative” housing in Tennessee made millions, but they had almost no earnings and used the money to repay earlier investors and for themselves.
The scam allegedly ran from 2005 until 2009, even after the Securities and Exchange Commission filed a civil lawsuit against Wragg and Knorr’s Mantria Corp. They were ordered in 2012 to pay $37 million each. […]More
4 comments:
Are we to be surprised? The Clinton Foundation is a scheme. In 2014 they donated $1.4 million to their own Clinton Foundation as a 100% tax deduction and then (including their daughter Chelsea) receive annual salaries from the foundation for working for a charity.
Green Energy is a magnet for scammers. Government programs throw money at these fly by night companies just for using the words "green" or "renewable". The truth is, 90% of this stuff is junk that costs taxpayers billions and increase the cost of electricity for all ratepayers.
Throw them BOTH in jail - together!
It just never ends with these greasy animals. Graft & power is all they breath for. It sickens me.
Post a Comment