Posted on 07/11/2010 5:53:30 AM PDT by macquire
Obama touts $400M loan to solar company run by corrupt congressmans nephew
Russell Kanjorski, the vice president for marketing at Abound Solar, was one of the principals in another energy company in northeast Pennsylvania, called Cornerstone Technologies LLC, which attracted $9 million in federal grants before it halted operations in 2003 and later filed for Chapter 7 bankruptcy. As reported by the Wilkes-Barre Times Leader, Cornerstone reported $14,100 in assets compared with $1.34 million in debt in its bankruptcy filing. The $9 million in federal grants to Cornerstone were earmarked by Kanjorskis uncle, Representative Paul Kanjorski of Pennsylvania, chairman of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Russell Kanjorskis old coal technology company already fleeced the government of $9 million in earmarks, and the government has decided to reward his new solar power company with another $400 million in loans. Brilliant.
http://hotair.com/archives/2010/07/10/obama-touts-400m-loan-to-solar-company-run-by-corrupt-congressmans-nephew/
(Excerpt) Read more at hotair.com ...
There is a direct link between Obama, Abenoga Solar and the Middle East. IMO, this is a way to funnel billions of American dollars to the Middle East.
http://indyposted.com/30639/2-billion-to-fund-solar-power-projects-in-us/
http://www.abengoasolar.com/corp/web/en/about_us/general/news/archive/2010/solar_20100609.html
FOUR HUNDRED MILLION
Bingo- the Kankjorski grifters finally tapped into a mother lode of government graft
I looked them up when this was first announced, it looked to me like that Abenoga Solar company is based in Spain (?)
we gotta get these people outta there - soon
Nepotism/neo-fascism and a thug POS congressman behind it all. In order to make a more perfect union, a lamp-post should have Paul Kanjorski’s name on it.
I guess they did such an effective and thorough job of squandering the taxpayer's money, that MaObama has decided that they really do have the right stuff to be in charge of his agenda.
ping for later
“Obama touts $400M loan to solar company run by corrupt congressmans nephew”
(no links)
KANJORSKI: ETHICS REPORTS OLD NEWS
Times Leader, The (Wilkes Barre, PA) - Thursday, June 21, 2007
Author: SHEENA DELAZIO sdelazio@timesleader.com
EXCERPT
The Republican group’s press release cites a Democrat Ethics Report that suggests Kanjorski “steered over $9 million in federal funding to Cornerstone Technologies , a company run by Kanjorski’s daughter and nephews.”
The NRCC’s report totaled the money Kanjorski paid to a family business and several family members at over $9.5 million. The report stated Kanjorski gave money to K&K Real Estate, a business he co-owns with his brother, and from 1999 to 2002, earmarked nearly $9.4 million to Cornerstone Technologies Inc., owned by Kanjorski’s nephews, and its sister company Pennsylvania Micronics.
//
MOST OF $1.34M CORNERSTONE DEBT TO GO UNPAID
Times Leader, The (Wilkes Barre, PA) - Saturday, March 29, 2008
Author: ANDREW M. SEDER aseder@timesleader.com
WILKES-BARRE - After more than a year in the hands of a court-appointed trustee, the bankruptcy case of Cornerstone Technologies is nearing an end. And, creditors seeking a portion of $1.34 million they say they’re owed will receive little or nothing.
The research company, owned by the daughter and four nephews of U.S. Rep. Paul E. Kanjorski, D-Nanticoke, was to use water-jet technology capable of pulverizing materials and minerals into microscopic pieces that could be used in high technology applications. Funded with $9.2 million in federal defense earmarks secured by the congressman, the company halted operations in 2003. Company officials filed for Chapter 7 bankruptcy Sept. 26, 2006 with Cornerstone reporting $14,100 in assets compared with $1.34 million in debt, according to bankruptcy court records.
Lead story on tonight’s NBC Nightly (not)...
Careful planning,clever accounts and shrewd attorneys¿?
V.P of Marketing + Legacy Slacker = Corporate Deadwood for sure!
If this were a Republican President, the media “outrage” would become a household word in mere hours.
Do you mean the solar companies that banks now deem a risk?
Good grief. Is there any limit to the hypocrisy of the media and the corruption of the democrats in power? The amount of graft,greed and lawlessness in this administration and the democrat party is staggering these days. How long is this abuse of power going to be tolerated?
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