Seven indicted on federal fraud charges in alleged miracle windmill investment scheme

Seven indicted on federal fraud charges in alleged miracle windmill investment scheme

Stockbrokers lied when they urged potential investors to sink money into the next big energy breakthrough, federal prosecutors say. Seven defendants, indicted on federal fraud charges, took part in a conspiracy to convince victims that their PowerStack wind turbine would “produce electricity at a tiny fraction of the cost of any other method,” according to a grand jury indictment against the company’s CEO and six high-level executives.

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