California man sentenced to over 6 years in prison for $8.7 million cow manure Ponzi scheme, US attorney's office says | CNN Business

Ray Brewer, 66, stole over $8.7 million from investors, court records from between March 2014 and December 2019 showed. Brewer’s scam involved convincing investors he could build anaerobic digesters – large machines that create methane through microorganisms breaking down biodegradable material – on dairies in several California and Idaho counties, the US attorney’s office said in a news release. This methane can “then be sold on the open market as green energy,” the release stated.

Wanting to appear as though he had secured revenue streams, Brewer also sent investors forged contracts with multinational companies, authorities said, and showed them fake photos of the digesters under construction. After receiving investors’ funds, authorities said he transferred the money to bank accounts opened in the names of an alias, his relatives and different entities.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

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