EDP and Boston Consulting Group offices raided in corruption probe

I welcome readers’ take on this research about EDP at the intersection of Boston Consulting Group and Hillary Clinton. 


EDP head office raided in corruption probe
Created: 02 June 2017
Officers of the Judicial Police raided the Lisbon offices of EDP, REN and the Boston Consulting Group this morning as part of an investigation into active and passive corruption.


The Attorney General's Office explained that the investigation is being run by the Central Department of Investigation and Criminal Action which the Public Prosecutor's Office uses in complex cases. Energy bosses António Mexia from EDP and Rodrigo Costa from REN confirm the searches.


“Redes Energéticas Nacionais (REN) confirms that, today, proceedings have been carried out by the judicial authorities at the company's headquarters in Lisbon. REN will continue, as always, to collaborate with the authorities in everything that’s within its reach."


EDP ​​confirms the police had been to collect information and said it would cooperate with the authorities.


"The Boston Consulting Group confirms that the Judicial Police was present at its Lisbon office and has made available all the necessary elements to the ongoing investigation and will continue to collaborate with the authorities while always ensuring the confidentiality of its customers."


The Judiciary Police did not make a statement but the Public Prosecutor’s office said, "The purpose is to investigate facts subsequent to the legislative process and administrative procedures relating to the introduction into the national electricity sector of Contractual Equilibrium Maintenance Costs (CMEC). The CMECs are compensation payments for the early termination of energy contracts."


The searches focused on the companies’ financial and administration departments, in the hunt for "facts that could be included in crimes of active corruption, passive corruption and economic participation in business."
This complex CMEC business dates back to the last decade when the State, with the full backing of Brussels, was empowered to compensate EDP for the cancellation of energy purchase contracts with its supplier, REN, so that everyone could enter the unregulated energy market from July 1, 2007, without old supply contracts getting in the way, which apparently is what the EC wanted but later was attacked by the Troika over 'excessive revenues.'
To facilitate the scrapping of these contracts, the CMEC system was devised, which ensured compensation was paid to EDP by the taxpayer, not the electricity consumer through higher prices.
The idea of ​​paying State compensation came from the Pedro Santana Lopes government at the end of 2004, but was triggered by the José Sócrates administration in 2007, when Manuel Pinho was at the Ministry of the Economy and António Mexia was already heading EDP.


At the time of the Troika, the Passos Coelho government classified these CMECs as "excessive revenues," a definition rejected by EDP’s Mexia who said the payments "reduced the costs to taxpayers."
The European Commission later wanted to open an investigation into the way these payments were handled. Someone somewhere seems to have found a way of fiddling the system so Portugal’s forces of law and fiscal order have opened yet another corruption investigation into high profile companies.
https://www.algarvedailynews.com/news/11824-edp-head-office-raided
EDP shares drop after senior staff named in corruption probe
www.ft.com/fastft/.../edp-shares-drop-after-senior-staff-named-in-c...

EDP chief denies wrongdoing over contracts under investigation ...
www.nasdaq.com/.../edp-chief-denies-wrongdoing-over-contracts-under......
13 hours ago - EDP chief denies wrongdoing over contracts under investigation ... the local division of U.S. consulting firm Boston Consulting Group on Friday in a probe ... market, saying it suspected "crimes of active and passive corruption…”

IT GETS CRAZIER.

EDP voting rights and shares to Mubadala

EDP-CTG_Activos_Portugal_EN
PDF / 254 Kb
EDP-CTG_Activos_Portugal_EN
Change of qualified shareholding in EDP
Monday, January 30, 2017
IPIC notified EDP that 100% of its shares and inherent voting rights have been acquired by Mubadala Investment Company PJSC.

About Mubadala Investment Company
On 21 January 2017, the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, as the ruler of Abu Dhabi, issued a law creating the Mubadala Investment Company, a company wholly owned by the government of Abu Dhabi.
- See more at: http://www.mubadala.com/en/mubadala-investment-company#sthash.nPynd...

Mubadala Development Company | Abu Dhabi, United Arab Emirates
www.mubadala.com/


Established and owned by the Government of Abu Dhabi, Mubadala's strategy is ... Mubadala Investment Company Board of Directors endorses new structure ...
http://www.mubadala.com/en/mubadala-investment-company

US goes after $1.4 billion in assets linked to Malaysian ... - Stuff.co.nz
www.stuff.co.nz/.../US-goes-after-1-4-billion-in-assets-linked-to-M...
Jul 21, 2016 - "Instead, that money went to relatives and associates of the corrupt officials of 1MDB and others." ... Among them is Riza Shahriz Bin Abdul Aziz, who co-founded Red Granite ... company aimed at encouraging foreign direct investment. ... with Abu Dhabi's state-owned Mubadala Development Company.


US Attorney General Loretta Lynch announces a civil action seeking the recovery of more than US$1 billion worth of assets taken from a Malaysian sovereign wealth fund.


The United States moved on Wednesday to recover more than US$1 billion (NZ$1.43 billion) that federal officials say was stolen from a Malaysian wealth fund by people close to prime minister Najib Razak.
It is alleged the ill-gotten funds paid for luxury properties in New York and Beverly Hills in California, a US$35 million private jet and paintings by Vincent Van Gogh and Claude Monet. It was also used to settle gambling debts in Las Vegas casinos and to produce Hollywood film The Wolf of Wall Street.


The case alleges a complex money-laundering scheme that the US Justice Department says was intended to enrich top-level officials of a government-controlled Malaysian wealth fund, known as 1MDB.

Cut continuing-

May 2010: 1MDB signs deals with sovereign wealth funds in the Gulf emirates of Qatar and Abu Dhabi. Prime land in Kuala Lumpur is sold to 1MDB at below-market rates to develop a financial centre, in a joint venture with Abu Dhabi's state-owned Mubadala Development Company. After spending nearly US$2 million on a launch party, 1MDB ditches the event when Abu Dhabi's crown prince decides not to attend.
ttp://www.stuff.co.nz/world/americas/82358835/us-goes-after-14-billion-in-assets-linked-to-malaysian-fund-1mdb

Google: Hillary Clinton Boston Consulting Group About 288,000 results (0.66 seconds)
Search Results


Inspired by Hillary Clinton's speech at... - The Boston Consulting Group
https://www.facebook.com/TheBostonConsultingGroup/posts/10151740826...
Inspired by Hillary Clinton's speech at BCG's global partner meeting, BCG's Arindam Bhattacharya reflects on the state of India's economy and social...
Petition · Hillary Clinton: HILLARY: RELEASE TRANSCRIPT OF ...
https://www.change.org/.../hillary-clinton-hillary-release-transcri......
On June 20, 2013, Hillary Clinton was paid $225,000 to speak to the Boston Consulting Group, which consistently recommends closing our public neighborhood ...
Boston Consulting Group: Recipients | OpenSecrets
www.opensecrets.org/orgs/toprecips.php?id=D000032055&cycle=A
Delegate, Hillary Clinton (D), $173,712. Delegate, Barack Obama (D), $125,090. Delegate, Mitt Romney (R), $51,775. Delegate, John Kerry (D-MA), $24,598.
How corporate America bought Hillary Clinton for $21M | New York Post
nypost.com/2016/05/22/how-corporate-america-bought-hillary-clinton-for-21m/
May 22, 2016 - $225,000; 6/20/2013, Boston Consulting Group Inc., Boston, Mass.: $225,000; 6/20/2013, Let's Talk Entertainment Inc., Toronto, Canada: ...
You visited this page on 6/6/17.
Hillary Clinton's “Corrupt Establishment” Is Now Advising Donald Trump
https://theintercept.com/.../hillary-clintons-corrupt-establishment......
Dec 2, 2016 - He even hired former Hillary Clinton aide Cheryl Mills to serve on the firm's ... president and CEO, Boston Consulting Group;; Doug McMillon, ...
You visited this page on 6/6/17.
Clinton Speech Wikileaks: Libya's Institutions 'Destroyed', Benghazi ...
www.breitbart.com/.../clinton-speeches-whoops-turns-libya-couldnt-p......
Oct 11, 2016 - The WikiLeaks dump of speeches Hillary Clinton fought to keep secret from the ... For example, she told the Boston Consulting Group in 2013:.

EDP

Clip from First Solar and Energy Secretary Chu's "DOE's Junk Bond Portfolio" JUNE 2012
First Solar is not directly in the "DOE junk bond inventory" that I reported on in April (Green Corruption: Department of Energy “Junk Loans” and Cronyism –– Intro), but are they are linked to three of the projects on that list.

Clip-

Back in 2009 –– since the passing of President Obama's Taxpayer Funded Stimulus Spending Spree, of which over $80 billion was earmarked for alternative energy –– is when I began following the green money. At that time, I uncovered some riveting revelations and connections about Goldman Sachs. But what I found most fascinating came from Matt Taibbi's Rolling Stone Magazine piece and video, where he exposed Goldman Sachs' "long-standing and very deep ties to the Democratic Party," and their "long history of putting their former employees in Democratic administrations."


I won't reiterate, but it can be found in my 2010 blog, Green Corruption: The Plot Thickens, yet worth repeating are some other Goldman Sachs' firms and projects that received "green dollars" that I found when I took a brief look.
One of the early investments reported by Matt Taibbi in his July 2009 Rolling Stone Magazine article –– The Great American Bubble Machine, warning that Goldman Sachs is "helping create the next bubble, 'global warming' –– was Horizon Wind Energy. Back in 2010 Horizon was still on the Goldman Sachs Environmental Markets portfolio, but reported as owned by Portuguese EDP Renewables. Still, it turns out that they won a $229.8 million grant from the "green stimulus package," as reported by GreenTechnology.Daily.com in December 2009, pointing out that it was one of the "top grant recipients." The article also notes, "European companies have scooped up the majority of U.S. stimulus money set aside for wind power projects."


Nordic Windpower, funded by Goldman Sachs and Khosla Ventures (and others) ––
http://greencorruption.blogspot.com/2012/06/obama-tied-troubled-fir...

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Comment by Barbara Durkin on January 20, 2018 at 11:07pm

Match-  Prime Minister Zayed

Judicial Watch -

January 04, 2018
State Department Releases 147 New Huma Abedin Work-Related Emails, 806 Total Emails

(Washington, DC) – Judicial Watch revealed today that there are at least 18 classified emails in the 798 documents recently produced by the State Department from the FBI’s investigation into former Secretary of State Hillary Clinton’s elicit email system. The emails were found on the laptop of Anthony Weiner, who is the estranged husband of former Clinton aide Huma Abedin.

Abedin was Clinton’s deputy chief of staff. Weiner is a disgraced former congressman and New York mayoral candidate who pleaded guilty to transferring obscene material to a minor. Abedin kept a non-State.gov email account on Hillary Clinton’s notorious email server that she used repeatedly for government business.

There are five new classified emails among 147 new Abedin work-related documents released by the State Department on Friday, December 29, 2017.

Thirteen emails containing classified information were also found on the Weiner laptop computer that had already been released to the public. This classified material includes discussions about Saudi Arabia, The Hague, Egypt, South Africa, Zimbabwe, the identity of a CIA official, Malawi, the war in Syria, Lebanon, Hamas, and the PLO.

On two occasions, classified material was sent by Abedin on her clintonemail.com account to Weiner’s laptop (sent to “Anthony Campaign”) on November 25, 2010. The email discusses an upcoming call with Prince Saud of “expected WikiLeaks leaks.” Abedin sent classified information the following day to Weiner’s laptop concerning a call that “Jeff” (presumably then- US Assistant Secretary of State for Near Eastern Affairs Jeffrey Feltman) had with United Arab Emirates Prime Minister Abdullah bin Zayed.

https://www.judicialwatch.org/press-room/press-releases/judicial-wa...

Comment by Barbara Durkin on January 8, 2018 at 1:46pm

This list is amazing from Washington Post.

EDP gave at least $250,000 to the Clinton Foundation.  

Note Ziayed Family gave $25 million and its a name match with Zayed His Highness, below!

IF THIS isn’t a pay to play list!?!-

https://www.washingtonpost.com/graphics/politics/clinton-foundation...

Comment by Barbara Durkin on January 8, 2018 at 1:14pm

Google:  Hillary Clinton EDP

A vast network for donors - Washington Post
Washington Post › graphics › politics › c...
Mar 18, 2015 · The Bill, Hillary and Chelsea Clinton foundation publishes a list of its donors, updated annually, including how much each has given to the foundation cumulatively ... EDP - Energias de Portugal, S.A., $100,001 - $250,000, no.

Comment by Barbara Durkin on January 8, 2018 at 1:08pm

Wikileaks dump of Hillary Clinton’s paid speeches, page 4 is Boston Consulting Group.


https://ia801200.us.archive.org/1/items/HRCPaidSpeechesFlags/HRC%20...

Comment by Barbara Durkin on January 8, 2018 at 12:56pm

So, Here’s Hillary Clinton pictured with Mubadala Investment Co President His Royal Highness (same fellow that, based on my research provided in comment, here, bought 100% of shares of EDP in 2017 from China 3 Gorges!!!

http://www.arabianbusiness.com/photos/hillary-clinton-meets-abu-dha...

And, the raided EDP and Boston Consulting Group is interesting as Hillory is speaking for hundreds of thousands for BCG I suspect is middle eastern, too.  

Comment by Barbara Durkin on January 8, 2018 at 12:31pm

Thank you, LI.  Then EDP is sold by China to Abu Dhabi!?!

EDP
UNREAL-change in qualified shareholding announced Jan 30, 2017 voting rights for EDP acquired by Abu Dhabi (Home court Peter Gish)


EDP-CTG_Activos_Portugal_EN
PDF / 254 Kb
EDP-CTG_Activos_Portugal_EN
Change of qualified shareholding in EDP

Monday, January 30, 2017
IPIC notified EDP that 100% of its shares and inherent voting rights have been acquired by Mubadala Investment Company PJSC.
About Mubadala Investment Company

On 21 January 2017, the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, as the ruler of Abu Dhabi, issued a law creating the Mubadala Investment Company, a company wholly owned by the government of Abu Dhabi.
- See more at: http://www.mubadala.com/en/mubadala-investment-company#sthash.nPynd...
Mubadala Development Company | Abu Dhabi, United Arab Emirates

www.mubadala.com/
Established and owned by the Government of Abu Dhabi, Mubadala's strategy is ... Mubadala Investment Company Board of Directors endorses new structure ...
http://www.mubadala.com/en/mubadala-investment-company

The Three Gorges Corporation (TGC) was initially set up by the Chinese government in 1993 to oversee the construction and later the management of the Three Gorges ...
https://www.internationalrivers.org/campaigns/china-three-gorges-co...

Scientific American
SUSTAINABILITY
China's Three Gorges Dam: An Environmental Catastrophe?
Even the Chinese government suspects the massive dam may cause significant environmental damage
By Mara Hvistendahl on March 25, 2008
Clip-
SHANGHAI—For over three decades the Chinese government dismissed warnings from scientists and environmentalists that its Three Gorges Dam—the world's largest—had the potential of becoming one of China's biggest environmental nightmares. But last fall, denial suddenly gave way to reluctant acceptance that the naysayers were right. Chinese officials staged a sudden about-face, acknowledging for the first time that the massive hydroelectric dam, sandwiched between breathtaking cliffs on the Yangtze River in central China, may be triggering landslides, altering entire ecosystems and causing other serious environmental problems—and, by extension, endangering the millions who live in its shadow.
Government officials have long defended the $24-billion project as a major source of renewable power for an energy-hungry nation and as a way to prevent floods downstream. When complete, the dam will generate 18,000 megawatts of power—eight times that of the U.S.'s Hoover Dam on the Colorado River. But in September, the government official in charge of the project admitted that Three Gorges held "hidden dangers" that could breed disaster. "We can't lower our guard," Wang Xiaofeng, who oversees the project for China's State Council, said during a meeting of Chinese scientists and government reps in Chongqing, an independent municipality of around 31 million abutting the dam. "We simply cannot sacrifice the environment in exchange for temporary economic gain."
The comments appeared to confirm what geologists, biologists and environmentalists had been warning about for years: building a massive hydropower dam in an area that is heavily populated, home to threatened animal and plant species, and crossed by geologic fault lines is a recipe for disaster.
https://www.scientificamerican.com/article/chinas-three-gorges-dam-...


In 2013 the Three Gorges Corporation brought a 21 % stake for USD 2.7 billion in Energias de Portugal (EDP) the then cash strapped Portuguese energy company, as well announcing that the two would form a partnership to invest in projects across Africa. This has manifested itself in hydro power and renewable energy projects in Portuguese speaking Africa – Angola and Mozambique, as well as Peru.

Three Gorges Corporation was facing a saturated home market and so looked like many other Chinese firms looked to the Belt and Road Initiative and has major plans for hydroelectric projects in Pakistan along the China Pakistan economic corridor.

Three Gorges Corporation is expanding at a boom time for renewables globally as new investment into these technologies now outweighs those going into traditional sources – the Chinese firm’s success in carrying out large projects and the deep pockets behind State owned firms is a major draw for other countries.

The company have been mired in controversy as a 2014 report initiated by President Xi’s anti-corruption drive found multiple instances of nepotism and fraudulent bidding procedures in the Three Gorges Dam project as well as many other examples of graft. The accusations made a big impact in the public consciousness as every Chinese citizen had to pay a special tax to pay to help build the dam. Senior figures including the chairman and CEO were forced to step down as a result of the scandal and the whole affair was widely discussed and condemned on social media.

https://fronteranews.com/news/asia/global-rise-chinas-three-gorges-...

Comment by Long Islander on January 8, 2018 at 11:56am

Set to invade Aroostook County, EDPR presents a face in Maine that it is a Texas company. https://bangordailynews.com/2014/11/14/business/texas-company-holds...

EDPR = Energias de Portugal Renewables

According to Wikipedia, Energias de Portugal is the parent company and it is owned by China Three Gorges. Also Wikipedia shows that the owner of China Three Gorges is the People's Republic of China, (aka Communist China).

https://en.wikipedia.org/wiki/China_Three_Gorges_Corporation

Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

 

Maine as Third World Country:

CMP Transmission Rate Skyrockets 19.6% Due to Wind Power

 

Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.

Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********

(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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