Edward McLeod, two others and myself started a company by the name of Amexca, LLc. We met while taking down a plant in Southern California. We became our first asset, which was a Geothermal Turbine worth ca. 40 Million. He told us he would put the turbine into his company A.L. Hanic Intl, since he had a tax loss we coiuld use for.
We sold 50% of the turbine rights to Alan Engle, who paid us some cash against his share. Ted decided that he would manage the company's cash, so he supposedly had an accountant on it, etc.
We engaged in new projects like the sale of 5 powerplants in Tx., spending lots of time and monney on it, as well as a few others.
After I started promoting the turbine for Solar energy through APS, Ted McLeod (California Resident operating in CA) and Alan Engle (California Resident operating in CA) sold the turbine (AT a warehouse in CA) to AUSRA, Inc., also a California Corp. The sales amout was $ 7.5 Million and to be used in solar power generation.
This was all done in secrecy, so the partners wouldn't know about it. Suddenly Ted McLeod moved to Nevada, for unknown reasons. Started buying toys, a hous, etc.
When I confronted him, 6 months later, he just told me: "Sue me".
So then, after realizing this I collected our company records, he had never done any accounting on it. Expenses were gone or recorded on his other business, who knows. He decided to and signed the closing of the corporation, which should be a crime without our consent. Etc.
The magik is: How did he flip the turbine over without paying sales tax in CA? Is that why he suddenly moved to Nevada?
I have already written a tax fraud complaint in CA, but it is still being worked on, I guess, because there hasn't been any reply from the State.
If he used several Stated to play Sales Tax games, then he should be federally liable I guess, so there could be a federal crime there. I do not know, since I can not request invoices nor accounting information from his company.
Another fraud case, some day justice should take care of this crooks.
Tom
Calexico, California
U.S.A.
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