PHILADELPHIA – Three people were charged Thursday with running a $54 million Ponzi scheme built on promises of a green energy technology that would turn trash into fuel and "carbon-negative" housing developments, neither of which were ever developed, federal prosecutors said.
Troy Wragg, 34, of Georgia, Amanda Knorr, 32, of Pennsylvania, and Wayde McKelvy, 52, of Colorado, were charged with wire and securities fraud and conspiracy. It wasn't immediately clear if they had attorneys who could comment on their behalf.
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 suit against Wragg and Knorr's Mantria Corp. They were ordered in 2012 to pay $37 million each.
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4 comments:
Look out Sussex and Somerset Counties. You are targets for all of the excess poultry litter on the shore. Its byproduct is poisonous gas that is highly explosive. The process, which is still in the testing stages, reduces litter by one-half. Which will now be the problem of Sussex and Somerset. The official who pushed this for Wicomico resigned before being fired because of the health risk it poses.
Somerset and Sussex officials must be unaware or do not care about the hazards. The fuel produced will cost $25-$149 per gallon. But have no fear, the US military will gladly buy it with taxpayer monies!
Anyone who still believe that this crap works deserve to be ripped off. It costs too much to even do research effectively and even then you can't believe what they tell you.
It's directly tied to the global warming scam.
2:27 and2:49,right on.
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