(October 1, 2013) The press release on September 24, 2013, from the Attorney General’s (AG) office was headlined: “Attorney General recovers $17 million for Victims of Ponzi Scheme” and went on to describe how the money had been seized and sent to the American authorities with respect to a US orchestrated “Ponzi Scheme”.
The definition of “Ponzi Scheme” from the “Legal Dictionary” is: “A fraudulent investment plan in which the investments of later investors are used to pay earlier investors, giving the appearance that the investments of the initial participants dramatically increase in value in a short amount of time.”
In the case of Ontario’s Ministry of Energy those “investments of later investors” is the billions of dollars extracted from the pockets of approximately 4.4-million ratepayers spread throughout the Province of Ontario. In Ontario, however, the extraction of monies from “later investors” is considered legal under the Green Energy and Green Economy Act (GEA) passed by the Liberal Government under Premier, Dalton McGuinty.
green
Parker Gallant: Ontario’s Ministry of Energy creates Canada’s biggest Ponzi scheme | Energy Probe
The definition of “Ponzi Scheme” from the “Legal Dictionary” is: “A fraudulent investment plan in which the investments of later investors are used to pay earlier investors, giving the appearance that the investments of the initial participants dramatically increase in value in a short amount of time.”
In the case of Ontario’s Ministry of Energy those “investments of later investors” is the billions of dollars extracted from the pockets of approximately 4.4-million ratepayers spread throughout the Province of Ontario. In Ontario, however, the extraction of monies from “later investors” is considered legal under the Green Energy and Green Economy Act (GEA) passed by the Liberal Government under Premier, Dalton McGuinty.
green
Parker Gallant: Ontario’s Ministry of Energy creates Canada’s biggest Ponzi scheme | Energy Probe