The American assured investors that he will build several methane extraction units that will provide tax exemptions and a 66% profit.
Ray Brewer, 66, was jailed in the US for pledging to turn cow dung into clean energy. Details of the story were reported by CNN.
According to investigators, Ray Brewer stole more than $8.7 million from March 2014 to December through an unusual scam. He promised investors to build anaerobic boilers on dairy farms in California and Idaho, machinery where microorganisms break down manure and turn it into methane. The businessman then offered to sell this combustible gas on the open market as a source of “green energy” to receive 66% of the net profit and tax benefits.
Ray Brewer showed potential partners around dairy and fake leases from business owners. It also sent investors millions of dollars in construction loans, fake contracts with major companies, and bank documents claiming to have received photos of anaerobic boilers being built.
After receiving the investment, the scammer transferred the money to bank accounts opened under a false name, to his relatives and others. In some cases, Brewer offered compensation allegedly received from other investors. Ray Brewer eventually changed his name and moved to Montana, hoping not to be there. During the arrest, the man argued that he had been mistaken for someone else, and also told law enforcement stories that turned out to be lies about his service in the navy and rescuing soldiers during the fire.
According to officials, Ray Brewer bought two plots of land, a private house and several cars with the stolen money. He was sentenced to six years in prison by order of the Eastern District of California court.
As the Irishman Tom Campbell proved, it is quite possible to get energy from waste. The owner of a dairy farm has built a plant that converts manure into electricity used in bitcoin mining.
Source: Focus
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