<=== NEW Downloadable Documents

We are documenting WAMo's shell companies.  we've found 40-50...  Only ONE (BTU Power Company) currently generates dividends.  Simple concept, raise private equity in a fund (BTU Power Company and BTU Power Company II) and deploy through a special purpose vehicle.  All you need is a few tax-efficient companies (probably offshore) to pull this off..... Wael, however, likes to have "tons" of shell companies at the ready for who knows what purposes (move cash around?)...

As KPMG (the liquidator of BTU Holdings Company) told the Grand Court of the Cayman Islands (February 24, 2011):

"The Company is the holding company of a group of companies generally named "BTU" (the BTU Group). The Petitioners understand that the purpose of the BTU Group was to raise capital from investors and to invest that capital in the global energy industry. Although the Petitioners have been provided with a structure chart for the BTU Group dated 22 February 2006 which shows a substantial number of entities owned directly or indirectly by the Company as the group holding company, it is currently unclear to the Petitioners to what extent that chart was, or remains, accurate as regards the structure of the BTU Group."

Pretty f***ing laughable that WAMo could only provide a structure chart that was half a decade old to KPMG.  Either the Private Equity Titan has been piss-poor at keeping track of his sprawling, world-dominant empire or he wants to keep the liquidator guessing where all the "cash is stashed"... Just a thought.