And the race is on! (to find the money before more of it disappears)
There is only one known data point right now: Wael burned through at least $12-$15 million with his QGEN plaything. That is the number reported by QIA in its original petition to Wind-Up BTU Power Company. That number could only have been provided by Wael Al Mazeedi. What are the chances that number is on the low end? How many other things did Wael burn money on that QIA and the other investors don't know about?
[Note: QGEN was registered to conduct business in Massachusetts January 29, 2010. QIA states that Almazeedi communicated the number to them sometime in July or August 2011. Damn! Almazeedi probably burned $15 million in just 1.5 years. Good show!]Observation
The following is typical of the wanton manner in which Wael burned through the Middle East investors' dividends chasing rainbows or moonbeams:
Speaker: Wael Almazeedi, QGEN
Location: Cape Town, South Africa. October 3-7, 2011
The Opportunity for Space Technology to Energize the Economic Development of Africa
What on earth did this conference have to do with "managing" two plain vanilla, power and desalination plants.
The Joint Liquidators will undoubtedly find countless instances of spending on "small, stupid things" like the conference and "large, stupid things" like ??? Qatar Investment Authority, Qatar National Bank, Dubai Islamic Bank, etc. requested the following team to be Joint Liquidators. The court agreed. Sounds like these guys are the right team to wade through all the "smoke and mirrors" that were employed by Wael and minions for years to play "keep away" with the investors' money. They are going to have to bring some pretty big shovels to dig through all the crap that was the BTU empire. Some of you out there may be hearing from these guys in the near term.
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| Oft-heard shout from "The Chairman's Office": Get Me Graphics! Where are Brad and Judy, I need them now! |
Mike Penner is a Partner and is responsible for the firm’s Financial Advisory Services. Mike specialises in developing, managing and performing cross-border fraud investigation and asset recovery solutions. He has also developed an expertise in managing large multi-jurisdictional investigative and asset recovery cases. Mike is a member of Deloitte Touche Tohmatsu’s Global Asset Recovery Solutions Team ("GARS"), a specialist team from within the worldwide forensic services capability of Deloitte that focuses on asset recovery assignments using an extensive web of proven contacts in jurisdictions around the world.
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Stuart Sybersma is a Partner, having responsibility for the firm’s Financial Advisory Services. This department encompasses the two main service lines of Insolvency and Reorganization and Fraud & Forensic Investigation. Stuart specialises in financial institution and mutual fund insolvency, fraud and financial investigation, litigation support, and anti-money laundering. Stuart has extensive experience with cross border asset tracing and recovery matters and is a member of the Deloitte Touche Tohmatsu international Global Financial Services Industry anti-money laundering team.
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16 comments:
Find Christina Stephens and locate the CEO's old MacBook Air. It has all his emails and files, but she took it.
I wonder what else she took. She ILLEGALLY Record Mr. Betancourt and others without cause. They knew they were doing it to alot of people in the office. The entire company list, about 1/2 of the people were most likely recorded.
Where is she now?
Great Graphic!
They should contact former IT Manager Brian Murphy whom was responsible for all those Cayman Island emails during his time. (I had one email too)
And if they wasted investors money in excess of 1 Million dollars and to then settle after 2 years of legal battle, something is there to be told.
It couldn't hurt to ask him.
QGEN = QUIT GET EXIT NOW
Qgen.com and Qgen.co are owned by Murphy. Congrats to him for buying them.
Blogger, should request Brad and Judy to do a graphic for this blog. Maybe one that they use that stole Natural Gas icon from another company without permission.
I guess the stress is getting to them.
I bet they are working now on a Friday night!
Making changing as the ship is sinking.
Have seen those graphics Judy and Brad used. they used something similar in MIT 2010 Energy Conference materials. Wael had tons of lawyers, always ready to write pleadings for the court that were BS. Bet those lawyers are not getting paid. Bet those lawyers have not gotten paid in a while. Big-assed, fancy-pants lawfirms don't stick around for long with deadbeat clients... especially now that the pot of gold is gone... bottom line. he won't (because he can't) sue anybody else anymore. he's probably looking to reach settlements left and right. else, he's preparing to leave ASAP as soon as he's moved enough cash around (hi Mitsue).
Let's put it this way.... The Joint Liquidators get paid out of the assets they recover. They will be relentless. Like the TERMINATOR? Probably not. However, they have damned good incentives.
so what does "no money" have to do with brad and judy. means that anybody can publish what brad and judy stole and not have to worry about wael filing pretextual lawsuits.
I bet Wael will never show up in any court. Whether it's McBrearty, or Betancourt, or Hayat. He's not gonna make it to the court dates. When he had all the money his lawyers could argue countless motions for XYZ. Now, that won't happen. Any question he is asked and any answer he gives will only help the liquidators get closer to his money stash. Wael (actually, Mitsue) is/are not that stupid. You can't plead the fifth in civil litigation... By the way, Wael is Kuwaiti and Mitsue Japanese, are they allowed to invoke "their rights under the 5th"
wael spent millions. yes, millions. suing people because they had BTU information that was "confidential"... does he realize now that anything (email, document, presentation,etc.) that makes reference to BTU Power Company belongs to the Joint Liquidators now. he spent all this shitload of money because some people knew he was swindling the investors and they had documents that proved it. he wanted to shut those people up. too bad. now it doesn't matter. 100,000 BTU Power Company documents could appear in some blog or website and Wael couldn't do anything about it...
Wael Almazeedi:
Chairman of the Board
Director
Chief Executive Officer
Managing Partner
Chief Financial Officer
Chief Investment Officer
Chief Operating Officer
Chief Officiating Officer
President
Treasurer
Secretary
Master Visionary
Etc..
All those roles regarding the only assets that produced revenue... are gone....
: )
Blogger, add to the list soon. Mitsue Oishi
How about that SPACE BASE SOLAR WITCHHUNT crap!
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