Wind Farm Investment Scam



windmill scam wind farm
A Texas businessman who solicited investors for his renewable energy company, Wind Plus, Inc., had no problem raising $3.7 million from nearly 100 individuals in 11 states. Unfortunately for the investors, he had no intention of following through on his business plan. Instead, he took their money and used it to fund his extravagant lifestyle—which eventually earned him 15 years in prison.

In the midst of growing local, national, and international concerns for the environment, wind energy is one of several types of renewable energy technologies being touted as environmentally friendly. Wind energy is known as a clean, sustainable fuel source that is cost effective and widely available domestically.

So when a Texas businessman solicited investors for his renewable energy company, Wind Plus, Inc.—whose stated business goal was to find and develop land suitable for wind farm construction—he had no problem raising $3.7 million from nearly 100 individuals in 11 states. Unfortunately for the investors, that businessman—David Lyman Spalding—was not exactly environmentally conscious, and he had no intention of following through on his business plan. Instead, he took their money and stuffed the majority of it into his own pockets.

Source: Wind Farm Investment Scam


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Christopher Kemmett

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