QGEN Ltd. is "back at it again": QGEN Ltd, everybody's favorite Cayman Islands-based company is still trying to pull a fast one over the City Council of Victorville, California (dated November 15)

Agenda, City Council Regular Meeting - City of Victorville - 15 November 2011

• City Negotiators: Doug Robertson, City Manager, or authorized designee
• Negotiating Parties: Authorized Representatives of QGen Ltd.
• Under Negotiation: Price, and terms of payment

 We'll ask the same questions we've asked before.  If QGEN has ZERO revenue-generating assets how does it propose to come up with the money to pay for ANYTHING AT ALL?  We know that Wael Al Mazeedi has absolute control of the Middle East Investors money (e.g. Qatar National Bank, Qatar Investment Authority, Dubai Islamic Bank, etc.) in BTU Power Company (the "owner" of shares in Carthage Power Company (Tunisia) and Taweelah Asia Power Company (Abu Dhabi).  Is this the money that's being waved in front of the faces of Victorville's elected representatives???

Tibor Toth, Emil Mamedov (he's actually gone "Confidential" regarding the source of his money recently - look at his LinkedIn profile - doesn't show anything about Wael Al Mazeedi, BTU, QGEN, etc. - he is ostensibly conducting "Technoeconomic Analysis at Confidential"  - what the hell does that mean Emil - has Emil turned into some bad ass Techno DJ? ), Fazle (Faisal) Khan, actually lists his current employer as BTU Industries - another company that no longer exists).  Care to comment?  Whoever is representing QGEN Ltd. did you bring the truth with you to the meeting?

Conclusion?

QGEN Ltd's Certificate of Incorporation (from the Cayman Islands) is shown below.  QGEN Ltd. has no money.  Yet, they are attempting to buy parcels of land in the California desert, what does this all mean?

Answer

Wael Al Mazeedi wants to be able to tell the world in his "fundraising efforts" that he "CONTROLS" strategic stakes in "cutting-edge" projects such as Victorville or ElMed (Tunisia).   Rough  estimate of the claimed investment requirements for these two projects is

• "...shelved $1.2 billion Victorville 2 power plant"
• In particular Ventures and Industries are concerned that BTU affiliates’ bidding position in projects including the $1.4B El Med Project—to export electricity from Tunisia to Italy via underground cable—will be compromised if Betancourt is able to disseminate confidential information with competing consortia. This would eliminate plaintiffs’ “first–mover” advantage in the industry and jeopardize their current fund-raising plans and good will. [paragraph 25 in the Betancourt Amended Complaint]
• [Note: In spite of any assertions to the contrary by Wael Al Mazeedi and QGEN, the Victorville and ElMed projects are DEAD for all intents and purposes]

This means that WAM has been going to his "investors" claiming that he has "control" of at least $2.6 billion of projects in his "development pipeline".... what's more.... he's probably claiming that he has billions and billions and billions of dollars of other great investment opportunities.  So..... if "investors" would just hand over their checks (or preferably, cash) to Wael Al Mazeedi he will invest it all in all this great stuff and make them all rich.

Does that pitch sound familiar?