Political Corruption – Senator Chuck Schumer

If I were to tell you that we had a seasoned Senator from New York that is sitting on the Judiciary Committee advocating huge financial relief for Puerto Rico while at the same time withholding knowledge of immense political corruption and financial fraud in Puerto Rico would you believe it. Can that happen in America? How many American Companies, hardworking American Citizens will this politician throw under the bus, how much American wealth will he give away to guarantee his re-election? Ask the Judiciary Committee to put him under oath and find out how he has violated committee rules and any trust the American people may have had in him.

9 Billion Dollar Bond Fraud, $1 Billion Theft of Public Money and an administration who is pressuring the DOJ to look the other way to protect the Hispanic and Puerto Rico votes while pushing through BK approval for the island. The democrats are throwing hardworking Americans under the bus to protect their reelection. Senator Schumer who needs the PR vote is leading the effort to bury this and send more money to PR. Evidence is overwhelming and DOJ is sitting on it.

Okay here it is in a nutshell:

Civil Complaint – PREPA Executives and Politicians stole $100,000,000 a year by overstating the cost of the oil purchases and getting kickbacks from the oil companies. This went on for over a decade and amounts to over 1 billion dollars.

Because of this activity PREPA Executives killed any effort to up-grade their facilities and lower the cost of their electricity production. They needed to keep the oil billings high.

PREPA then mislead their bond investors by claiming they were going to do these up-grades, critical if PREPA was going to reduce their high internal costs. The bond holders fell for it and purchased billions in municipal bonds from PREPA. Than PREPA killed the projects that would have reduced their cost and defaulted on the bonds claiming their costs were too high. It takes balls of steel for this..

To keep their claims in the bond prospectus creditable PREPA issued 75 contracts (15 billion dollars) to build renewables facilities. Commercial Solar Power (CSP partnering with GE) has one of those. CSP lost $13,000,000 working in good faith with PREPA to build these sites.

PREPA engaged in repeated bad faith and contractual fraud to kill these projects and protect the oil money kick-back scheme. 30,000 jobs were lost and companies like CSP took huge losses.

Alixpartners the internal consultant for PREPA’s financial restructuring accepted 25 million dollars from PREPA in fees but failed to report the on-going SEC violations and criminal activity they were well aware of.

Hagens Bermen (see their web site) did not report this on-going criminal activity even though they have abundant evidence, and American companies like CSP continued to take losses.

It is a felony to not report known felonies and SEC violations. Hagens Bermer benefited greatly by not reporting these crimes and settling with the defendants confidentially. Hagens Berman also refused to help victims that were ruined by this scheme or cooperate fully with authority’s.

CSP simply reported what it knows about these “on-going” crimes and the SEC & FBI found our claims to be credible enough to open a multi-agency investigation. CSP continues to cooperate with authorities and continues to provide documents and evidence to support these complaints.

The Puerto Rico Governor actually acknowledged some of this in a press conference. Dan Drummond, CSP’s President is a former west point career military officer and NBC news/military correspondent. Dan is handling the much of the SEC and FBI reporting for Commercial Solar Power. Dan can provide you with documentation if you would like. You can reach Dan at 858-663-5065 or at his personal e-mail account at whatfun51@gmail.com