Consistent with the purpose of this blog, only PUBLIC DOMAIN information is used in this section. There is a fair amount of direct "public" discussion regarding the BTU group of companies (mostly through affidavits filed in support of certain Motions in Massachusetts state courts as well as US Federal courts.) All the declarations in the following affidavits have been made by the OWNERS of "BTU" under oath in Massachusetts courts. It goes without saying that the owners would be the best informed parties to describe the business they developed and continue to run.
Link: Wael Al-Mazeedi Affidavit - March 17, 2008 (1st Al-Mazeedi Affidavit)
Link: Abdulmohsen Hayat Affidavit - April 6, 2008 (1st Hayat Affidavit)
Link: Abdulmohsen Hayat Affidavit - April 10, 2008 (2nd Hayat Affidavit)
Link: Wael Al-Mazeedi Supplemental Affidavit - April 17, 2008 (2nd Al-Mazeedi Affidavit)
Link: Wael Al-Mazeedi Affidavit - August 11, 2008 (3rd Al-Mazeedi Affidavit)
Link: Wael Al-Mazeedi Affidavit - August 11, 2008 (3rd Al-Mazeedi Affidavit)
Link: Kenny Leung Email to BTU and Draft Letter to Evolvence (Exhibit 4 referenced in 1st Al-Mazeedi Affidavit, Page 12, Section 30(d).
One question to ask after reading these affidavits, why does a $1 billion venture capital fund need "loans" from one of its founding members, funded from a "consulting" agreement [see 1st Al-Mazeedi Affidavit, Paragraphs 27(a), 28, and 31(c-d)] and channeled through an offshore bank in Monaco [see 3rd Al-Mazeedi Affidavit, Paragraph 13], to meet payroll or keep other BTU-affiliated companies (some of them US-based) from "liquidation."
4 comments:
Keep this data coming. The ponzi scheeme is coming to a head soon.
spelling correction: PONZI SCHEME
$1 Billion laughs.
Hey Anonymous, I wouldn't give him credit or the smarts to pull off a ponzi scheme. He lives in a bubble that is going to pop soon.
Smart investors do their research and I'm very glad to know that this the one of the best blogs sites to show him in his true light.
It is funny that he won an accounting award, which means nothing. Cayman award? Delaware aware? UAE?
http://www.btuventures.com/news/6-19-06.html
BTU VENTURES' FOUNDER AND CEO NAMED ERNST & YOUNG ENTREPRENEUR OF THE YEAR® 2006 AWARD WINNER IN NEW ENGLAND
Award Recognizes Entrepreneurial Excellence in Energy Category
Boston MA — June 19, 2006
BTU Ventures' Founder and Chief Executive, Wael Almazeedi, received the Ernst & Young Entrepreneur Of The Year® 2006 Award in the Energy category in New England.
POP! The bubble.... POP.
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