Wind Turbine Co. Execs Bilked Investors Of $1.9M, SEC Says

Law360 (July 14, 2020, 8:14 PM EDT) -- A wind turbine company and its three operators conned at least 60 investors out of more than $1.9 million, misrepresenting the technology the company was purportedly developing and pocketing almost half of investor funds, the U.S. Securities and Exchange Commission alleged in a complaint filed Tuesday in Florida district court.

Thunderbird Power Corp, CEO Richard Hinds, of Queen Creek, Arizona, former Thunderbird president Anthony Goldstein, of Ontario, Canada, and consultant John Alexander "Lex" van Arem, of Ontario, Canada, ran an alleged scheme between August 2016 and October 2018 to collect investor funds through the unregistered offer and sale of Thunderbird stock,...

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