It's Finally Happened...
We'll post the text of the petition to the Grand Court of the Cayman Islands soon.... The investors have decided that the only way they are ever going to get any of their money back is to essentially put Al Mazeedi out of business. [Note: Wael (and his fellow QGENITES), this blog has regular visitors from 72 countries that will get full updates regarding your track record as a"...careful steward of our investor's investments in global energy assets." Those are your own words. The words of "your" investors are totally different.]This is a link and the text associated with a service called "offshorealert.com" Many of the allegations of the Qatar National Bank, Qatar Investment Authority, Dubai Islamic Bank will no doubt sound familiar to anyone following this blog regularly.
BTU Power Company: Winding-Up Petition
[Note: QGENITES should pay special attention to the filing as the Middle East investors state that Al Mazeedi's QGEN alone has burned through at least $12-15 million of money that should have gone to them as dividends in the past few years. QGEN, that's where all the money for everything, including the crappy Friday lunches was coming from... It'll be obvious now that it's in black and white how a company with ZERO revenue producing assets keeps going... Somebody else's money... This nice cash stream made it possible for Mr. Faisal Khan to pull in $300-400 K per year and Mr. Tibor Toth to pull in $X hundreds of thousands per year. Etc. etc.]
BTU Power Company: Winding-Up Petition
Winding-Up Petition In the Matter of BTU Power Company at the Grand Court of the Cayman Islands.
Pages:
23
Sector:
Liquidations & Insolvencies;Litigation;Securities & Investment
Date:
November 11, 2011
Crime:
Fraud
Plaintiff(s):
BTU Power Company
Case Number:
2011 183KEYWORDS
- Qatar Foundation Fund
- Maples Corporate Services Limited
- BTU Power Management Company
- Wael Almazeedi
- BTU Holdings Company
- BTU Industries Holdings (USA) Inc.
- BTU Ventures, Inc.
- Taweelah Asian Power Company
- Carthage Power Company
- Asia Gulf Power Holding Company Limited
- Asia Power Gulf Service Company Limited
- Q Gen Industries Limited
- Broog Trading Company
- Qatar National Bank
- Dubai Islamic Bank
- BTU Power Islamic Portfolio
- QGEN
- Marubeni Corporation
- Abdel Moshan Hayat
- Evolvence Capital
- Deloitte & Touche
- Michael Penner
- Stuart Sybersma
- [ top 3 ]
12 comments:
Awesome!
One word sums it all up: FRAUD.
Another one word: JAIL
Another line: From PAID Bloggers, PAID AWARDS E&Y and now FRAUD.
Brad and Judy, Get out of there!
Follow L Le and run. Run like Forest Gump!
BTU VENTURES' FOUNDER AND CEO NAMED ERNST & YOUNG ENTREPRENEUR OF THE YEAR® 2006 AWARD WINNER IN NEW ENGLAND
Update: FRAUD, E&Y to request the return of the award.
You have to LOVE the internet.
Years ago, this would have never been found.
I guess Federal Court will cost alot more when you don't have the power/access nor money to waste.
Is there another employee leaving Monday?
Whom might that be?
from the petition... "Serious Allegations of Misconduct, Mismanagement and Corporate Malfeasance"
LoAn Le has great timing. Additionally, she worked the accounting books for the entirety of her "career" with Al Mazeedi. The petition from the Qatar Investment Authority, Qatar National Bank, Dubai Islamic Bank alludes to the fact that "employees" likely were part of Wael's schemes.
Ms. Le was as clueless as you know who. She lived with her parents and drove their cars. Another High School Grad being used. She knew what she was doing, but ran before the end game.
Ms. Le knows details about Mr. Betancourt and Mr. Murphy layoffs and complaints. She knows the finance games that have been played on the investors.
Her cell phone is San Francisco currently.
-Anonymous
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