Skip to comments.Green Energy Execs Praised by Clinton Foundation Indicted for $54M Ponzi Scheme
Posted on 09/07/2015 6:06:03 AM PDT by afraidfortherepublic
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 Knorrs Mantria Corp. They were ordered in 2012 to pay $37 million each. [ ]
Two months before the SEC civil lawsuit, the company was publicly recognized for its stated commitment to help mitigate global warming by former President Bill Clintons Clinton Global Initiative. The company was cited for its plans to develop the biochar technology that it said would sequester carbon dioxide and reduce emissions in developing countries. Wragg appeared on stage with Clinton at the event in September 2009.
Praise for Mantria remains on the website of the Bill, Hillary, and Chelsea Clinton Foundation:
Mantria Corporation commits to help mitigate global warming through the use of its Carbon Fields site, where Mantria will perform trials on their product BioChar, a carbon-negative charcoal, to prove how this product can sequester carbon dioxide, improve soil quality when buried, and reduce emissions in developing countries.
Think Bill-Then hill(ary).
“Carbon negative” charcoal? You’d think that if anything would test positive for carbon, it would be charcoal!
Is that anything like "Dry Water"?
Duh! How can any charcoal be “carbon negative” when charcoal is just about pure carbon? After all, it’s made by heating wood in an air tight vessel to drive out the other combustible elements, leaving nearly pure carbon. Indeed, that’s why it burns at a high enough temperature to smelt iron.
No...the story is just true fiction...
“Green energy” is a SCAM.
ALL of it.
As in: EACH AND EVERY SINGLE PART.
The list, Ping
Let me know if you would like to be on or off the ping list
High time to close down the filthy scam...the Clinton Foundation.
Confiscate the books....and freeze all the assets....wherever they may be around the world.
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