Wael Al Mazeedi as a "careful steward". Protecting his investors investments by using their money for his own purposes.

FOUNDER'S STATEMENT (the fiction - created Feb 2011 for the "new" btupower.com website - it's since disappeared)

These are Wael Al Mazeedi's OWN words.
"As the BTU Companies continue to successfully execute our business plan, I am pleased to update you on recent and positive developments in our efforts to protect the value of our assets for the benefit of all our investors."

• "In addition, to protect our investors and our business, we recently filed counterclaims against the shareholder and former director in the first lawsuit that set the record straight on the history of BTU."

• "BTU also initiated other lawsuits in the United States to protect the business and its investors."

• "Despite a calculated campaign of U.S. litigation and disinformation by these various defendant, the perpetrators have failed to disrupt our mission to be a careful steward of our investors' investments in global energy assets."

"I want to take this opportunity to assure current and prospective employees, current and future investors, partners, family and friends that BTU remains steadfastly focused on meeting it fiduciary responsibility and protecting its investors."

INVESTORS' STATEMENT (the reality - filed Nov 2011 by the Qatar Investment Authority in their petition to wind-up BTU Power Company)

This is what his investors actually think about Wael.

The Petitioners and the Supporting Preference Shareholders (as defined below) - who together represent approximately 93% of the equity in BTU Power Company ("BTU" or the "Company") - consider it is just and equitable for the Company to be wound up for at least the following reasons:

• The Manager and Almazeedi (as those terms are defined below) have conducted the business of the Company in such a way that the rights and interests of the Petitioners and the Supporting Preference Shareholders - the principal economic stakeholders in the Company — have been oppressed, disregarded and/or undermined such that it would be unjust and inequitable for them to be forced to remain as members in the Company or to be forcibly redeemed upon the terms proferred:

Since the formation of the Company, the Manager [i.e. Wael Al Mazeedi] has been richly compensated and also the beneficiary of significant loans from the Company. The Petitioners understand that between 2003 and 2009, the Manager received approximately 

• US$16.3m in management fees and borrowed 

• US$9.3m in unsecured loans from the Company. (BTU Power Company Consolidated Financial Statements for the years 2003-2009).  
• These significant loans and compensation amounts stand in stark contrast to the fact that the Petitioners have only received a total of US$576,000 in dividends since their initial investment in the Company.

At the same time, the Manager has apparently expended approximately  

• US$12-15m of Company funds on expenses relating to Almazeedi's pursuit of exit or restructuring alternatives...

Sidenote

Thomas Paine would have loved the internet ("I offer nothing more than simple facts, plain arguments, and common sense . . ." Thomas Paine, 1776, pamphleteer).  Wael Al Mazeedi does not love the internet (this is based on first-hand knowledge).

Thomas "Tom" Paine (February 9, 1737 [O.S. January 29, 1736^[1]] – June 8, 1809) was an English author, pamphleteer, radical, inventor, intellectual, revolutionary, and one of the Founding Fathers of the United States.^[2]