The Biggest FRAUD and PONZI Scheme Ever Perpetrated Against Maine's Citizens in the State's History?

First Wind/SunEdison  was said to have Financial Capacity  for Wind Projects in Maine ,BUT NEVER DID!

So,here is the "difficult" mathematical analysis that any 9th grader could have done.

The basic math...SunEdison  is now stated to be worth .0018 of its stated pre-bankruptcy value!!

 They stated they were worth $10,000,000,000(TEN BILLION),when in fact, cash on hand was  a mere

$18,000,000(18 million)!!!.What a Fraud!!!

JANET MILLs...investigate, or perhaps  be investigated, or impeached!

Maine's outrageous failure to evaluate real "financial capacity" in its permit evaluations of First Wind by DEP (Littel as the commissioner) are indeed breathtaking. None of the approved  projects to date  should have ever been approved if real financial capacity and  auditing was done of First Wind/SunEdison ,prior to approval of project permits, which the law demands for a permit to be granted.  So now we know this ?

This may indeed be the biggest FRAUD and Ponzi scheme ever perpetrated against Maine's citizens in the States history!

“The company, the world’s largest renewable-energy developer, was valued at nearly $10 billion as recently as last summer, but had only about $18 million in cash on hand at the time of its chapter 11 filing.

http://www.wsj.com/articles/appaloosa-management-calls-for-probe-of...

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Comment by Pineo Girl on May 4, 2016 at 2:22pm

My comment is the same as I just made for Dan McKay's post - Janet Mills - Go along to get along - With Obama and hopefully Hillary Clinton - Not for Maine people!

 

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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We have the facts on our side. We have the truth on our side. All we need now is YOU.

“First they ignore you, then they laugh at you, then they fight you, then you win.”

 -- Mahatma Gandhi

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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/

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