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Idaho Man Sentenced for Stealing Funds Invested in Bogus Fuel Technology Venture
Posted on Wednesday, November 15, 2006 @ 20:43:07 GMT by vlad

Legal
For Immediate Release: November 9, 2006

Office of The Attorney General - Stuart Rabner, Attorney General
Division of Criminal Justice - Gregory A. Paw, Director


TRENTON – Attorney General Stuart Rabner and Division of Criminal Justice Director Gregory A. Paw announced that an Idaho man has been sentenced to prison for stealing funds from victims who invested in United Fuel Cell Technologies Inc., a phony corporation that the defendant claimed had developed a revolutionary technology to convert water to hydrogen fuel.



According to Director Paw, Superior Court Judge Thomas P. Kelly of Mercer County sentenced Patrick Kelly, 51, of Kuna, Idaho to five years in state prison on a charge of second-degree theft by failure to make required disposition of property received. The defendant also was ordered to pay $400,000 in restitution. Kelly pleaded guilty to the charge on July 31, admitting that he used more than $200,000 in funds invested in United Fuel Cell Technologies to purchase eight cars in his own name.

An investigation by the Division of Criminal Justice determined that between November 2000 and June 2004, Kelly collected about $2.5 million in investments in United Fuel Cell Technologies from about 500 people, mostly New Jersey residents.

It is alleged that Kelly spent investor funds on a variety of expenses, many of which were clearly not related to the business or the development of their purported technology. Kelly allegedly spent $80,000 for a fountain for his home and financed a credit card for his 12-year-old daughter.

“This defendant is going to prison because he stole from investors,” said Attorney General Rabner. “We are committed to vigorously prosecuting these cases to protect New Jersey residents who are trying to invest and save for their retirement or their children’s education.”

“Mr. Kelly claimed to offer investments in a breakthrough technology. In reality, he offered only lies,” said Director Paw. “We have ensured that he will be appropriately punished for his greed and deception.”

The Division of Criminal Justice obtained a state grand jury indictment on Sept. 23, 2005 charging Kelly with second-degree securities fraud in connection with his sale of “common stock” in United Fuel Cell Technologies. The indictment alleges that he falsely claimed that United Fuel Cell Techologies was a Delaware corporation, and that Hewlett Packard and IBM had agreed to assist the corporation in developing and marketing its technology and related products. In fact, United Fuel Cell Technologies was never incorporated, and Hewlett Packard and IBM did not make any agreement with the company. Kelly also was indicted on second-degree charges of conspiracy and theft.

The judge today dismissed charges in the case against a second man, John Yoka, 35, of Livermore, Calif.

Hydrogen fuel cells, which are a legitimate technology, generate energy using hydrogen or hydrogen-rich fuel, with water as a byproduct. However, Kelly, who also used the name Genesis World Energy, fraudulently claimed to have invented a process to separate the hydrogen and oxygen molecules in water to produce hydrogen and oxygen gases to be burned as fuel or used in fuel cells. He claimed the technology would free the U.S. from dependence on oil from the Middle East.

State Investigator Noelle Holl and Deputy Attorney General Patrick J. Flor were assigned to the investigation for the Division of Criminal Justice. They were assisted by Investigators Dean Kuehnen and Julian Leone of the New Jersey Bureau of Securities. Flor prosecuted the case and represented the state at the sentencing.

Source: http://www.nj.gov/oag/newsreleases06/pr20061109d.html
Other coverage: http://pesn.com/2006/11/15/9500433_Genesis_Patrick_Kelly_conviction/
More info: http://freehydrogen.blogspot.com/

 
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"Idaho Man Sentenced for Stealing Funds Invested in Bogus Fuel Technology Venture" | Login/Create an Account | 2 comments | Search Discussion
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New Release of OU Electrolyzer Plans (Score: 1)
by vlad on Saturday, September 29, 2007 @ 14:00:34 GMT
(User Info | Send a Message) http://www.zpenergy.com
From: http://pesn.com/2007/09/29/9500450_BobBoyce_Electrolizer_Plans/
[pesn.com]

Bob Boyce is one of the world's leading super-efficient electrolysis experts. A group of hydroxy researchers have compiled an updated set of plans including Toroidal Coil winding and hookup info enabling others to replicate the work of Boyce.

by Michael Couch
for Pure Energy Systems News

" D9.pdf [pesn.com]" might just end the oil wars and fossil fuel use. Bob Boyce and documenter, Patrick Kelly, have teamed up to revise Kelly's public domain D9.pdf file making it much easier for DIY Hydroxy researchers to replicate. It now holds complete plans for replicating the Bob Boyce Electrolyzer. [ Caveat [pesn.com]] Three or four critical items of information that were omitted from the previous file have now been supplied and more detailed instruction for assembly, plate cleaning, conditioning and startup procedures have been added...
...

[Read more at the link above. Is this Patrick Kelly the same as the one in the post above ...with the UFC and GWE scam?]



Genesis Self-Sustaining Generator Prototype and Documentation Pops up on eBay (Score: 1)
by vlad on Monday, May 28, 2012 @ 16:11:57 GMT
(User Info | Send a Message) http://www.zpenergy.com
Remember the G-Cell by Genesis World Energy back in 2003 that had everyone excited, curious, mad? The company founder, Patrick Timothy Kelly ended up in jail for fraud. Well, the demonstration unit is now up for sale on eBay. Bid closes in a few hours, on May 18, 5:48:41 GMT, with opening bid requested at $2500...

Full story: http://pesn.com/2012/05/18/9602094_Genesis_Self-Sustaining_Generator_Prototype_and_Documentation_Pops_up_on_Ebay/ [pesn.com]



 

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