Ethanol Blog
Todd Neeley DTN Staff Reporter

Wednesday 12/23/09

Charges Dropped Against Wash. man Involved in Ethanol Projects

Prosecutors in Port Orchard, Wash. dropped theft charges against a Bremerton, Wash. man who had been charged with two counts of theft related to his attempts to raise money from investors for ethanol projects around the state, according to the Kitsap Sun in Kitsap, Wash.

Prosecutors said in court documents that while raising the funds, Steven R. Mandak violated agreements with investors to provide dividends on their investments.

Mandak’s attorney John Cross said his client was a victim of the ailing economy, which led to investment losses instead of dividends.

Mandak told the Sun that he still plans to break ground on an ethanol plant in Spokane next year.

(Kitsap Sun, Dec. 22, 2009)
(http://www.kitsapsun.com/…)

Posted at 10:03AM CST 12/23/09
Comments (1)
Parties to other biofuel ventures may also end up before courts. Some seem able to skate past. For example the CEO of Evolution Fuels promoted an ethanol plant in Moses Lake, WA. Now it appears that project will be resurrected as a Bio(Diesel)Willie venture: www.forbes.com/2009/12/23/evolution-resources-biowillie-business-energy-ethanol.html
Posted by S.D. Maley at 3:41PM CST 12/24/09
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