Wael Al-Mazeedi (BTU Ventures' "Founder and Chief Executive") was selected as Ernst & Young Entrepreneur of the Year in the Energy category for the New England region in 2006.
7. In April, 2006 the Fund was in financial distress. The one-year loan time-period permitted by Desdner was about to expire. Al-Mazeedi's planned third round of equity fund raising, with migration from prior BTU groups' funds, was unsuccessful. There was no IPO. In order to buy more time from Dresdner, certain Fund investors then paid in additional equity. In return, there was an extension of the Dresdner financing for the fund by an additional six months...
8. ...Dresdner noticed an event of default on August 31, 2006...
9. By the early fall of 2006, the financial investment of all the investors in the Fund, including that of Plaintiffs, was completely exposed to ruin by virtue of Al-Mazeedi's operational control of the Fund. The 50% shareholder interest in MPC had been pledged to Dresdner at the outset of the financing that Al-Mazeedi arranged...Link: IFIC and ASEAN v. Wael Al-Mazeedi, Mitsue Oishi, BTU Ventures, and Unnamed Consulting Co.
WHAT THE BUSINESS WORLD IS SHOWN
In the BTU Ventures website one of the two "news" articles for 2006 announces that BTU Venture's Founder and CEO was named E&Y Entrepreneur of the Year 2006 Award Winner in New England. As is evident from multiple postings in this blog, the bios for Wael Al-Mazeedi consistently make note of the fact that he was a recipient of the award.
A question arises regarding the criteria and process for the selection of the finalist as well as the "winners" of the award. As you will notice from a link provided below, E&Y announced the finalists sometime in late April 2006 and hosted an award ceremony for the announcement of the winners in mid-June 2006. Who nominates the candidates? What information does the candidate (or the nominator) have to provide to support the nomination?
A question arises regarding the criteria and process for the selection of the finalist as well as the "winners" of the award. As you will notice from a link provided below, E&Y announced the finalists sometime in late April 2006 and hosted an award ceremony for the announcement of the winners in mid-June 2006. Who nominates the candidates? What information does the candidate (or the nominator) have to provide to support the nomination?
Curious Coincidence
In the "Events"section of Wilmer Hale's website they announce on June 15, 2006: Boston, Massachusetts
We are a sponsor of the Ernst & Young Entrepreneur of the Year awards. This awards event recognizes outstanding entrepreneurs in the area whose achievements place them as leaders of their business.
Link: Wilmer Hale announcement
Further clarification regarding Wilmer Hale's role in the E&Y awards is provided in a press release attributed to E&Y. In the section on "Sponsors" they state the following:
"Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards is nationally sponsored by the Ewing Marion Kauffman Foundation. In New England, local sponsors include Herald Media, Inc. J. Robert Scott, MARSH and WilmerHale."
8 comments:
FACT: What you have done in your past is how successful you are in your present.
btu&QGEN are a scud missles just falling down to earth.
The is a joke of an award. I guess it matches the CEO the joker.
That was that lightbulb award on his desk. It must have been a sign. The light was always OFF.
I think it was the other glass award. Like the bulb joke.
Blogger is doing an awesome job.
LOL. Truth hurts when you see the facts. LOL.
Gotta love the Internet! I know Wael doesn't!
Wael Almazeedi
PANELIST
CEO, QGEN Ltd.
Link: http://www.acgboston.org/events/growthconference2010speakerbios.aspx
Mr. Almazeedi is Founder and Chairman of QGEN. He is also Managing Partner of BTU Power, a private equity firm with a track record in developing, managing and owning 11,000 MW (gross) of installed power generation capacity located in China, South Korea, Taiwan, Tunisia and the United Arab Emirates. Prior to QGEN and BTU Power, Mr. Almazeedi’s worked for the World Bank Group and for the Kuwait Petroleum Corporation.
Mr. Almazeedi holds a Master of Public Administration from the John F. Kennedy School of Government, Harvard University (USA), a post-graduate diploma from the College of Petroleum and Energy Studies (UK) and a Bachelor’s degree in Applied Chemistry with Control Engineering from the University of Kent at Canterbury (UK).
In 2006, Mr. Almazeedi was awarded the Ernst & Young Entrepreneur of the Year® Award in the energy category for New England.
ACG Boston's Growth Conference 2010
Boston Park Plaza Hotel
50 Park Plaza at Arlington | Boston, MA 02116
June 9-10, 2010
Too Funny. Still living in the past. The Truth hurts
The Mole
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Cuomo Sues Ernst & Young Over Lehman- NYTimes
The New York attorney general on Tuesday sued Ernst & Young, accusing the accounting firm of civil fraud for helping its client Lehman Brothers mislead investors about the investment bank's financial health.
Sounds like a match!
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