Saturday, March 22, 2014

Herald: More Trouble For Trash-to-Biodiesel Firm

Posted By on Sat, Mar 22, 2014 at 10:35 AM

It was less than 10 years ago that a company called Green Power was barnstorming throughout the region with hopes of bringing its trash-to-biodiesel technology to communities that promised tax breaks and a favorable regulatory environment.

But officials in Pasco, Wash., called the tactics of Green Power "lies and promises," and the company's CEO MIchael Spitzauer is in federal custody on charges of wire fraud, aggravated identity theft and money laundering.

And this morning's Tri-City Herald is reporting that a U.S. trustee assigned to Green Power is recommending that the company not be granted bankruptcy protection, and the Port of Pasco has begun eviction proceedings to oust Green Power from its region.

Spitzauer is accused of defrauding investors of at least $6.7 million over seven years. Additionally, the Washington Department of Ecology shut down Green Power's unfinished facility in 2009 because it lacked proper air quality permits.

And get this: The Herald ran a check of public records and discovered that Green Power's acting CEO Judith Calhoun recently filed to incorporate a company—Atlantis Renewable Energy Systems—in Washington state, listing herself as the sole owner. Calhoun is also Green Power's vice president of finance.

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