Pacific Hydro’s Ponzi Scheme Implodes: Wind Power Outfit Loses $700 Million of Mum & Dad Retirement Savings


wind chopping up money It’s more fun when it’s somebody elses’ …


Pacific Hydro is a name synonymous with wind industry skulduggery in Australia: the merciless treatment of its victims at Cape Bridgewater has been added to the annals of Australian corporate infamy, right up there with Aussie asbestos pedlar, James Hardie (see our post here).

Now, its slap-dash approach to management, and all-round corporate malfeasance, has caught up with it, with an almighty vengeance.

Pac Hydro is the bastard child of IFM Investors – born of the $billions that are collected from workers and thrown into what are called “Union Super Funds” – ie “superannuation”: compulsory retirement savings schemes – owned and controlled by union heavies, like Garry Weaven and/or Labor Party front men; like former Environment Minister, Greg Combet.

Combet, Weaven & Co are the driving force behind the great wind power fraud in Australia. It was Combet who lobbied…

View original post 3,086 more words

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s