Replies to post #452 on International Automated Systems (fka IAUS)

[SWMFHD]

My wife and I sat next to Greg Shepherd having dinner last night at the movie theater. I guess he had to celebrate after a hard day of court?

[scion]

From Case 2:15-cv-00828-DN-EJF Document 351 Filed 03/26/18 Page 3 of 13

**** Quote Start ****

Brief Factual Background

The United States will prove at trial that the solar energy scheme is, and has always been, a fraud.

Neldon Johnson created and organized the solar energy scheme. He created, owns, and controls at least five entities that have sold so-called “solar lenses” or otherwise collected money from the solar energy scheme: IAS, RaPower-3, LLC, XSun Energy, SOLCO I, and Cobblestone Centre, LLC.

With the exception of IAS penny-stock sales, none of these entities generated revenue from any source other than the solar energy scheme.

Instead, they make money by selling purported solar lenses to customers, which the customers purportedly lease to LTB, LLC.

These transactions, however, are illusory. Although LTB is a company that exists only on paper and has never done anything, Defendants tell customers that LTB will operate and maintain the customer’s lens for them, as part of a system that will generate electricity.

Defendants tell customers that LTB will sell electricity to a third-party power purchaser, and then pay customers “rental income” for use of their lenses.

Defendants assure their customers that, by “purchasing” lenses, customers may claim a depreciation deduction and a solar energy tax credit on their federal income tax return.

When customers follow Defendants’ instructions, they greatly reduce or “zero out” their federal tax liability.

[... snip ...]

But Defendants’ purported technology has not worked, does not work, and will not work, to use solar radiation to generate electricity or other useable energy, much less any rental income from a third-party purchaser.

The only money Defendants generated has come from the U.S. Treasury through their customers and into Defendants’ pockets.

**** Quote end ****

The trial reconvenes on Thursday, 4/19, for 6 days.

Then another day or two (if needed) in May.

This is going to get VERY interesting VERY soon.

--- FINALLY !!!!

If the Plaintiffs can prove their above claims, and the judge rules in their favor, I think it's safe to say things will be quite a bit different in the IAS/RaPower3 world.

On the other hand, if the Defendants can disprove the Plaintiffs' claims, and the judge rules in their favor, the days ahead will be pretty much the same as they have been for the past decade or so.

Personally, I'm a fan of change.

Win or lose, will the Defendants proceed with their oft-threatened lawsuits against other parties?

Unknown, but if the Plaintiffs win, the likelihood of the Defendants winning any related lawsuits hovers right around nil.

But, that won't keep the Defendants from giving it the ol' college try.

Maybe they can pay their lawyers with lenses?

Sure is a pretty day.

TED