A California man was sentenced to 6 years in jail Monday for orchestrating a cow manure to inexperienced vitality rip-off that collected over $8 million.
Ray Brewer, 66, ran the hoax from 2014 to 2019 in a number of counties in California and Idaho. According to prosecuting attorneys, Brewer milked $8.75 million out of traders over 5 years.
Brewer informed traders he was constructing anaerobic digesters that might flip their cow dung into methane that might be offered. He informed traders they might be capable of maintain 66% of the online revenue and tax incentives from the methane.
He skirted round investor questions by taking them on excursions of dairies the place he mentioned he deliberate to construct the digesters, plus confirmed them pretend mortgage agreements with banks, pretend lease agreements with dairies and pretend photos of the machines underneath building.
Brewer used the cash he schemed out of traders to purchase himself new pickup vans and land.
Once traders grew to become fed up together with his lack of outcomes, he paid them off with funds he secured from different traders. He was ultimately sued by a few of his former traders and misplaced. He then moved to Montana and assumed a brand new identification till he was arrested in 2020.
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