Sign up for daily updates

Help keep this education resource going strong!

More information

Selected Documents

All Documents

Research Links

Alerts

Press Releases

FAQs

Publications & Products

Photos & Graphics

Videos

Allied Groups


[ exact phrase in "" ]

[ Google-powered ]

Location/Type

News Home
Archive
RSS

Subscribe to RSS feed

Add NWW headlines to your site (click here)

Minnesota wind farm booster faces new federal indictment  

Credit:  By John Welbes | 07/17/2013 | St. Paul Pioneer Press | www.twincities.com ~~

Greg Jaunich has been down this road before.

In 2007, Jaunich of North Oaks was indicted for overcharging a utility company and the state of Minnesota $500,000 for wind-generated electricity.

But as that case played out, he already was raising money for another wind farm venture, dubbed the Averill Project, according to a new indictment filed this week.

Those charges, filed in federal court in Minnesota, include five counts of mail fraud. All of the counts are related to letters Jaunich sent to investors in June 2008, in which he allegedly made false claims about the progress of the Averill Project, which was planned for Clay County, Minn.

Jaunich did not return a call seeking comment on Wednesday.

Jaunich, 52, didn’t tell his investors on the Averill Project that he was under criminal investigation, according to the new indictment. And he didn’t use the $1.5 million he raised for the Averill Project for the wind farm, “but instead diverted almost all of the funds to his own personal use,” the indictment says.

Jaunich was an early entrant into the Minnesota wind energy market in the 2000s, working as a consultant and raising money for projects.

But the 2007 charges – which resulted from the $500,000 overcharge – led to him pleading guilty to one count of mail fraud. Jaunich was sentenced to 21 months in federal prison in Duluth and was released in July of 2010.

The indictment filed this week claims that Jaunich didn’t tell investors in the Averill Project in 2006 and 2007 that he was under investigation until after the money came in and until after he was indicted in the fall of 2007 for submitting false invoices to Xcel Energy.

The latest indictment also claims that Jaunich “made false representations to the investors concerning the progress” being made on the Averill Project, provided false financial statements to investors about the use of their funds and mischaracterized the nature of the federal criminal investigation once it surfaced.

He’s scheduled for an initial court appearance on Aug. 12 in Minneapolis.

Source:  By John Welbes | 07/17/2013 | St. Paul Pioneer Press | www.twincities.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

Tag: Complaints


« Later PostNews Watch HomeEarlier Post »

Get the Facts
HOME ABOUT PRIVACY CONTACT DONATE
© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.
Formerly at windwatch.org.

Follow Wind Watch on Twitter

Wind Watch on Facebook

Share