Green Energy Scamster Convicted

We are pre-wired to believe that we are doing an extraordinary pre-investment investigation, when we are really only helping a scam artist set the hook deeper.

James Rivera of Carson, California, convinced hundreds of people that he’d developed a windmill technology that was a partial answer to our need to develop green energy sources. Rivera and his companies, “Almighty Wind, Inc.” and “Apostles, Inc.,” started gathering victims at a non-denominational Christian church in California and spread out from there. Rivera was convicted late last month by a jury in Maine of one count of mail fraud and 10 counts of wire fraud. Before we draw lessons from this case, let’s read part of the story, as covered by the Bangor Daily News: (more…)

SEC Stops Alleged Nuclear Energy Pump and Dump

We all know that America must pursue clean energy, and we expect that early investors in a company that can bring that energy to market will do very well. That makes us all vulnerable to green energy scams.

We’ve predicted that alternative energy will be part of the new wave of financial fraud. The U.S. Securities and Exchange Commission believes it has caught one of the first scams in that wave.  Specifically, the SEC has charged “a self-described power company in Idaho with fraudulently raising funds for a $10 billion nuclear power project.” According to the SEC’s press release: (more…)

WSJ Story Presages Rise of Eco-Cons

The Wall Street Journal ran a story yesterday entitled “Biomass Power Generates Traction.”  In the offices of professional scam artists worldwide people jumped into action to create scams that will use that story to gain traction.  They will laminate the story and use it as they pitch investments centered on supposed breakthroughs in the generation [...]

The Wall Street Journal ran a story yesterday entitled “Biomass Power Generates Traction.”  In the offices of professional scam artists worldwide people jumped into action to create scams that will use that story to gain traction.  They will laminate the story and use it as they pitch investments centered on supposed breakthroughs in the generation of biomass energy and alternative fuels. (more…)

 
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