The seemingly endless money spigot has run out for Wael
BTU POWER COMPANY
60% owner of Carthage Power Company
10% owner of Taweelah Asia Power Company
60% owner of Carthage Power Company
10% owner of Taweelah Asia Power Company
(In Liquidation)
The Companies LawNotice of Appointment of Official Liquidator
TAKE NOTICE that by order of the Grand Court made on 26 January 2012 BTU Power Company, registration number 122018 whose registered office is situated at PO Box 309, Ugland House, South Church Street, Grand Cayman KY1-1104, Cayman Islands, was ordered to be wound up in accordance with the Companies Law.AND FURTHER TAKE NOTICE that Michael Penner and Stuart Sybersma of Deloitte & Touche at PO Box 1787, Grand Cayman KY1- 1109, Cayman Islands have been appointed as Official Liquidators of the Company.Dated: 30 January 2012.MICHAEL PENNERVoluntary Liquidator
Sequence
Hearing was held on Thursday January 26, 2012 regarding petition by Qatar Investment Authority to Wind-Up BTU Power Company.
Hearing was held on Thursday January 26, 2012 regarding petition by Qatar Investment Authority to Wind-Up BTU Power Company.
- Qatar Investment Authority was represented by Walkers
- Dubai Islamic Bank was represented by Harneys
- BTU Power Company was represented by Maples & Calder
Hearing on 26 Jan 2012
Order issued on 26 Jan 2012
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| Image extracted from Cayman Islands Gazette dated February 13, 2012. |
43 comments:
I guess this is it! Meaning, that the trustee (liquidator) will get unfettered access to OPEN UP THE BOOKS and figure out what's been going on for the past 9 years. Everybody that enthusiastically supported Wael all this time should be squirming a bit (or a lot).
Doesn't Wael keep a ton of records offsite as well as in his house? Christina S. will be having to answer a TON of questions.
Christina will disappear. So will Mitsue, I bet Japan bound.
What happens to CPC? Who lives off the FREE money now? I wonder how long they will waste leasing a building for a company with ZERO, FU*KING 0 ASSETS.
Too funny to see Mitsue squirming too. I bet she wouldn't get hired at McDonalds! I can hear her talking to her co-workers there.
"Do you want fries with that?"
It is about time!
I wonder how long they keep paying any of their bills?
Alex is gone? But he is local and will be called into Federal Court.
BTU Power Company accounts will will be frozen soon if they haven't already frozen. Money runs out. No more Management Fees, no more access to investor dividends.
Lot's of bills not getting paid.
Trustee gets all CPC and TAPCO and AGPS dividends. Wael can't get his hands on them. Sorry WAM.
QGENites (Tibor and Emil) did you buy your 300 acres of desert yet? Judy and Brad, are you working on the 20,000th version of the PowerPointless presentation regarding how Wael is going to make everybody filthy rich (and save the world at the same time)? Busola, you find any takers (suckers) yet to work for ClownGen? Glenn and Dan, when you show up to the next board meeting at CPC or TAPCO what are you going to say about BTU Power Company?
: )
Dan left too!
I wonder how he will pay the lawyers? Mitsue must be pissed she found no success in all the years in Waltham MA.
Did you really think moving down the same street would change everything? WRONG! You are stupid as Christina would tell me everyday and to people in the office.
Everyone is laughing at you now. Get a real job!
Hey, anybody that's still with QGEN/BTU... just take care of yourselves. WAM has always been taking care of himself. He will continue to do so. There's a LONGGGGGGG list of people that have "worked" for WAM. There is only ONE WAM. He will thrown any of you "under the bus" in less than a second if it's useful for his purposes.
Everybody has a life beyond WAM. Many people have actually been doing pretty damned well after breaking free from WAM.
What happens to the one employee at CPC that was paid thru a law office in Paris? I think his name was Walid? I had a meeting with him there once, he just started a family and now will be looking for work.
BTU Power Company II = 0
BTU Power Company = 0
QGEN = 0
BTU Industries = 0
Hybrid Energy Consortium = 0
FATE Consortium = 0
Anything related to Wael+ Mitsue = 0.
Note: equals zero for investors and employees. Trustees in liquidation will figure out how much $$$,$$$ has ended up in the partnership of M+W.
QGEN is paying well over $300,000 a year for the empty offices at 890 Winter St, Suite 310. Eviction notice coming soon?
Deloitte & Touche, the liquidator, will decide what happens to him... Kind of rough. I'm sure Wael never told him anything so Walid could anticipate and prepare himself for this. I worked with Walid. He is a damned good/smart guy. He could have been great if BTU was actually for real. Wael has his stash ($$$,$$$,$$$) somewhere. Liquidator will be looking for it... Monaco? Geneva? Jersey Island? Etc.
Everybody can plausibly say "I didn't know".... The Liquidator is more likely to find that it was more like "I didn't want to know even though I saw it and was part of it..."
Maybe they should ask Yasmeen. She posted ILLEGAL MUSIC DOWNLOADS on her facebook page. You think Mitsue would shut her down already. Downloading ILLEGAL MUSIC IS A CRIME!
http://www.facebook.com/photo.php?fbid=1329190029948&set=a.1338375779586.2040941.1236872250&type=3&theater
I can hear the phone call from Mitsue.
Yasmeen, I don't have any money or income. Go get a job.
The clock in the kitchen has a bug, now find it. Brown wood on the wall near the door.
-The Investors
Lawyers ain't getting paid.
Wael and Mitsue found success in Burlington and Waltham (with the help of many, many people). They also found GREED and avarice. Greed has gotten both of them to this point now... avarice always dictated that they believe it was all about THEM. You live by the sword, you *** by the sword.
Blogger - Photo of Mistue.
http://www.facebook.com/photo.php?fbid=1024906823058&set=a.1024905943036.2016624.1236872250&type=3&theater
Another one too.
http://www.facebook.com/photo.php?fbid=1024906863059&set=a.1024905943036.2016624.1236872250&type=3&theater
Yasmeen photo
http://www.facebook.com/photo.php?fbid=1024909863134&set=a.1024905943036.2016624.1236872250&type=3&theater
http://www.facebook.com/photo.php?fbid=1024909823133&set=a.1024905943036.2016624.1236872250&type=3&theater
http://www.facebook.com/photo.php?fbid=1024911463174&set=a.1024905943036.2016624.1236872250&type=3&theater
well, lifestyles will change now. Khaled, Wael's son was supposed to be a great soccer star. Wael even bought him a spot on the roster for a French team. Khaled is old (for soccer) and never amounted to anything. Yasmeen has aspirations of being the next diva. Instead of singing everywhere she is at the party school known as UCLA. Maybe her YOUTUBE videos will bring her stardom. maybe they'll just be a reminder of ... NOTHING! When is the next tuition check due at UCLA. Last time it probably came from Monaco or a Cayman Islands bank.... NOW.... it may not come.
March 2012, the end game. The UNITED STATES MASSACHUSETTS FEDERAL COURT.
YOU ARE FU*KED! Get ready. Make sure you pay your lawyers, Mr. Betancourt will kick some serious ass of QGEN. I guess a lien on the house in Lexington MA should pay back Mr. Betancourt. Even the house value went crazy down!
CS & AU are going to scream to the judge to save their own asses! See what happens to people that lie in Federal Court. The Real World is going to his you like a ton of brinks.
I heard the shit is hitting the fan soon. I hear them and I see the shit is in the air.
So Christina Stephens used the Fifth Amendment right. "shall be compelled, in any criminal case, to be a witness against himself."[42]
Refusal to testify in a civil case
While defendants are entitled to assert that right, there are consequences to the assertion of the Fifth Amendment in a civil action.
The Supreme Court has held that “the Fifth Amendment does not forbid adverse inferences against parties to civil actions when they refuse to testify in response to probative evidence offered against them.” Baxter v. Palmigiano, 425 U.S. 308, 318 (1976). “[A]s Mr. Justice Brandeis declared, speaking for a unanimous court in the Tod case, ‘Silence is often evidence of the most persuasive character.’” Id. at 319 (quoting United States ex rel. Bilokumsky v. Tod, 263 U.S. 149, 153-154 (1923)). “‘Failure to contest an assertion...is considered evidence of acquiescence...if it would have been natural under the circumstances to object to the assertion in question.’” Id. (quoting United States v. Hale, 422 U.S. 171, 176 (1975)).
In Baxter, the state was entitled to an adverse inference against Palmigiano because of the evidence against him and his assertion of the Fifth Amendment privilege.
Some civil cases are considered "criminal cases" for the purposes of the Fifth Amendment. In Boyd v. United States, the US Supreme Court stated that "A proceeding to forfeit a person's goods for an offence against the laws, though civil in form, and whether in rem or in personam, is a "criminal case" within the meaning of that part of the Fifth Amendment which declares that no person "shall be compelled, in any criminal case, to be a witness against himself."[42]
Computer passwords
In January 2012 a federal judge in Denver ruled that a female bank-fraud suspect must give an unencrypted copy of the laptop hard drive to prosecutors. The act of providing the unencrypted copy is not protected by the 5th Amendment. [46]
PGP included!
the Supreme Court has held that the Fifth Amendment protections against self-incrimination extend only to "natural persons.
Christina Stephens was born in Germany! She is screwed.
Ms. Christina Stephen "Took the fifth", she will be blacklisted, but she already is one ugly husky sheman.
She is clueless as a co-worker.
VOLUMINOUS ASSES:
C. Stephens
J. Commodore
Which one wins in face to face combat?
Which one wins in ass-cheek to ass-cheek combat?
If BTU Power is done and the cash river has run dry for Wael, then how are the lawyers going to be paid? If they can't be paid, and they shold be smart enough to know this as they must read this blog, why would they continue to work on the case(s)?
Have Wael's lawyers already stopped working for him? Will he ask for a delay in the March Betancourt case if he does not have any counsel who will represent him?
Is the game already over?
Wonder if the Cayman lawyer will work pro bono as he and his firm has already made so much money off of Wael.
Doubt the Boston lawyers will work for free.
Have the Ernst & Young Entrepreneur of the Year awards been handed-out yet? If that shit is not just a freaking joke E&Y should ask WAMo to give the award back. WAMo should, give it back of his own accord since he ultimately failed. He failed not because he didn't "TRY"... he failed because he thought all the money from the investors was for HIM to enjoy. Many Four Seasons hotels all over the world will have to change the name of their most premium penthouse suite from the "Wael Al Mazeedi Suite" to something else... There's always Motel 6 WAMo
Get me graphics!!! Where's Judy and Brad!!!
Only money came in under Hayat (late 2002, early 2003).
Judy and Brad have been around forever but they've helped WAMo deliver nothing new.
Recommendation to the Trustee/Liquidator for BTU Power Company - don't bother reading through any of the thousands of powerpointless presentations you come across. all the ramblings and pretty pictures inside are just "reefer madness"
Just read one to laugh your ass off! Knowing that THOUSAND versions of the same crappy Powerpointless document has been edited...edited... forever...
All the edits in the world will not bring Success.
No Assets. No Patents. No Income!
Didn't Betancourt work for QGEN too? He has handed me a business card once with QGENENERGY.com?
Is QGEN (clowngen) done too?
Murphy will gladly testify for Mr. Betancourt. Give his lawyer a call / heads up, once the date is scheduled.
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