(Natural News) Just in case a cabal of criminals tries to pull the same scam again, should you come across an alleged “green energy” investment opportunity that promises big returns through the production of so-called “biochar,” don’t fall for it: Biochar is nothing more than incinerated biosludge, which in and of itself is a “green energy” scam.
It’s being reported that at least one of the culprits involved in swindling $54 million from trusting investors as part of an elaborate biochar ponzi scheme was recently sentenced to prison for 30 months – and this individual, perhaps not surprisingly, had previously been honored by former President Bill Clinton during a 2009 ceremony for the Clinton Global Initiative for her “contributions” to humanity.
Amanda Knorr, 35, of Hellertown, Pennsylvania, reportedly created the fake start-up company, known as “Mantria Corp.,” back in 2005, along with her partner in crime, Troy Wragg. Along with the help of Colorado-based “wealth advisor” Wayde McKelvy, the trio is said to have swindled investors into handing over their hard-earned cash – many of them sacrificing their entire life savings in the process.
Beware of “green energy” investments – most appear to be fraudulent
The idea was that, with the purchase of a large plot of land out in rural Tennessee, Mantria Corp. would be able to produce enough “earth-saving” biochar to generate sizable returns on investment. But the entire thing was a fraud from the start, and few investors ever saw even a penny come back into their possession.
McKelvy was the slick-talking salesman to convince investors that the venture would be profitable, while Knorr and Wragg distributed these ill-gotten assets to the three in the background. When all was said and done, tens of millions of dollars went missing, and prosecutors are still in the process of holding all involved accountable for their actions.
According to U.S. Attorney William McSwain, more than 300 victims of the ponzi scheme lost everything, learning in the process that the land where the biochar was supposed to have been produced was actually “uninhabitable,” and that the whole thing was just a “bogus trash-to-green energy business” scam based on “bogus scientific methodology.”
Knorr has already been sentenced for her role in the scheme, while McKelvy, who was convicted back in October on charges of wire fraud and securities fraud awaits his conviction. Wragg is similarly awaiting his sentencing, which his supposed to come in June.
For more related news about the biosludge scam, be sure to check out Biosludge.news.
Biochar scam the biggest green energy scam in U.S. history, says SEC
In reporting on the case, the U.S. Securities and Exchange Commission stated that it’s unequivocally “the biggest green scam” in our country’s history – having apparently scammed more money out of innocent Americans than Obama’s massive green energy heist.
By the time the SEC was able to shut down Mantria and begin trying to recoup the money that was stolen, there was reportedly only $790,000 left – the whereabouts of the other more than $36 million that should have been there, minus the $17 million that was returned early on to some investors to maintain the illusion of legitimacy, being unknown.
There was also a class action lawsuit that was filed in federal court by some of the victims, which retrieved about $6 million of the stolen money. Another $800,000 was also reportedly placed into “receivership,” to be overseen by Colorado accountant John Paul Anderson. But as of this writing, this $800,000 has yet to be distributed to the victims.
To learn more about how the Obama regime bilked taxpayers out of billions of dollars for similar “green energy” ponzi schemes, be sure to check out Obama.Fetch.news.
Sources for this article include: