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Tuesday, 2 October 2012
Charges in $1-million green-energy scam
TORONTO - A Scarborough man is accused of bilking investors out of $1 million with a green energy-scam.
Durham Regional Police claim the accused set up a company called Saunders Power Inc. on Wellington St. in Bowmanville, which he used to defraud 10 individuals and businesses between December 2009 and March 2012.
“The company was geared at manufacturing cork-screw style wind turbines capable of producing energy that could be sold back to the Ontario Power Authority for a lucrative profit,” police said Friday. “The accused allegedly produced forged documents and a fake licence to make the business appear legitimate.”
One of the investors became suspicious and contacted police in January, which prompted an investigation.
Gregory Saunders was arrested at his home on Tuesday.
The 56-year-old is charged with fraud over $5,000 and forgery.
Anyone with new information regarding this investigation should contact the Fraud Unit at 1-888-579-1520, ext. 5353, or Crime Stoppers at 1-800-222-TIPS(8477).