Giant Ponzi Scam Busted: Renewable Energy Fraudster Trades ‘Green’ for Orange Prison Garb

Heavily subsidised wind and solar and a bevy of associated rorts and scams attract plenty of spivs, chancers and outright crooks. South Australia became renowned as Australia’s wind power capital thanks to a bunch of shysters and ex-convicts from the USA who started the whole scam rolling: How a Band of Criminals, Shysters & Chancers Conjured Up the Wind Industry in Australia

Frauds range from the pedestrian, the bizarre and brazen. And the characters involved are usually very well-connected. In this case one of them was tied up with US President Bill Clinton.

Woman Sentenced Over $54million Green Energy Ponzi Scheme
Daily Mail
Emily Crane
9 April 2019

Troy Wragg & Amanda Knorr: go one, you can trust us.

 

Fraudster, 35, once honored by Bill Clinton for her ‘commitment to help mitigate global warming’ is jailed for just 30 months for $54MILLION ‘green energy’ Ponzi scheme – the biggest clean energy scam in American history

  • Amanda Knorr, 35, was one of three people charged over a fake green energy scheme that defrauded investors out of $54 million from 2005 to 2009
  • Knorr was sentenced Friday in Philadelphia federal court to 30 months in prison
  • Knorr co-founded Mantria Corp with her college boyfriend Troy Wragg after they graduated from Temple University in 2005
  • Authorities said they received more than $54 million from hundreds of investors within four years on false promises of green energy technology
  • Many of the investors were encouraged to invest through get-rich seminars run by Colorado wealth advisor Wayde McKelvy
  • Wragg and McKelvy are also charged in the scheme

A Pennsylvania woman has been sentenced to prison for her role in a $54 million Ponzi scheme that was the biggest scam involving clean energy in U.S. history.

Amanda Knorr, 35, was one of three people charged over the green energy scheme that defrauded more than 300 investors from around the country.

Knorr was sentenced on Friday in Philadelphia federal court to 30 months in federal prison.

Knorr co-founded Mantria Corp with her college boyfriend Troy Wragg after they graduated from Temple University in 2005.

Authorities said they received more than $54 million from hundreds of investors within four years on false promises of green energy technology that would turn trash into fuel and ‘carbon-negative’ housing developments, neither of which were ever fully developed.

Many of the investors were encouraged to invest through get-rich seminars run by Colorado wealth adviser Wayde McKelvy.

Wragg and McKelvy are also charged in the scheme.

‘Many people lost their entire life savings,’ assistant U.S. Attorney Robert Livermore said after Knorr was sentenced, according to NBC.

Authorities said those involved promised investors huge returns for investments in their supposedly profitable business ventures in real estate and green energy.

According to court documents, Mantria was a Ponzi scheme in which new investor money was used to pay ‘earnings’ to prior investors since the businesses actually generated meager revenues and no profits.

Mantria, which was shut down in 2009 by the Securities Exchange Commission, is believed to be the biggest green scam in U.S. history.

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.

Two months prior to the scheme coming to light, Knorr and Wragg were both honored by former President Bill Clinton for their so-called commitment to ‘help mitigate global warming’ during a 2009 ceremony for the 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.

Prosecutors say the trio lied to investors, saying their biochar technology and carbon-negative housing in Tennessee made millions of dollars, but they had almost no earnings.

McKelvy, who prosecutors say was never been licensed to sell securities, raised money through his Speed of Wealth seminars in Colorado, Las Vegas and elsewhere, including one that featured a speech from former Broncos quarterback John Elway.

Knorr and Wragg both pleaded guilty after being charged.

McKelvy is currently appealing his conviction and Wragg is due to be sentenced in June.
Daily Mail

About stopthesethings

We are a group of citizens concerned about the rapid spread of industrial wind power generation installations across Australia.

Comments

  1. Reblogged this on ajmarciniak.

  2. Talking of Ponzi schemes, voters are being asked to vote for Bill Shorten's Ponzi scheme to end all Ponzi schemes – 45% renewables, seems it will be good for the economy and good for you:

    "A Shorten Labor Government will make Australia a renewable energy superpower by ensuring 50 per cent of our electricity generation comes from renewable energy by 2030, modernising our energy systems, and empowering households and businesses to take advantage of cheap, clean renewable energy and storage."

    Even the Reserve Bank, sensing a change in the political wind is scrambling to get on board the renewables gravy train, it apparently seeks to leverage its understanding of modern economic theory by collaborating with the climate modellers whose models have shown such pin-point accuracy in modeling the chaotic vagaries of the earth's climate, not:

    "We are talking with climate modellers. We share a common understanding with them about looking at these issues in general equilibrium and the importance and challenges in modelling non-linearities. We are working through the challenge of taking this information and translating it to the economic models and frameworks that inform our monetary policy decision-making."

  3. Look at what they are doing to Assange for revealing their lies. This woman should be locked up for more than 30 months for defrauding so many out of their savings

  4. I have followed STT for some time.
    Occasionally the Noise thing appears from Wind Turbines.

    Is it not before time that the real serious issue is persued as Low Frequency Noise is now a plague, a plague of modern society that Doctors , Media , Politicians are ignoring.

    With the Election coming up something needs to be pushed to the fore front.

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