WNP-2, securities fraud investigation are fired up
Washington's WNP-2 nuclear plant faces a securities fraud investigation just as it is ready to start operating on schedule. The investigation's outcome and WNP-2's performance will determine whether WNP-1 and WNP-3 will be financed. Angry bondholders who did not receive interest on their investments in January prompted Congressional hearings, at which it was learned that institutional buyers had pulled out of the Washington Public Power Supply System project and unloaded the bonds on thousands of unsuspecting individuals for whom tax-free municipal bonds are inappropriate. Securities Exchange Commission investigators will focus on the initial offering and disclosure by the issuer to determine if the Wall Street unloading was legal. (DCK)
- OSTI ID:
- 5067763
- Journal Information:
- Electr. Light Power; (United States), Vol. 62:3
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
29 ENERGY PLANNING
POLICY AND ECONOMY
NUCLEAR POWER PLANTS
INVESTIGATIONS
INVESTMENT
WNP-2 REACTOR
FINANCING
ADMINISTRATIVE PROCEDURES
BWR TYPE REACTORS
ENRICHED URANIUM REACTORS
NUCLEAR FACILITIES
POWER PLANTS
REACTORS
THERMAL POWER PLANTS
THERMAL REACTORS
WATER COOLED REACTORS
WATER MODERATED REACTORS
210100* - Power Reactors
Nonbreeding
Light-Water Moderated
Boiling Water Cooled
290600 - Energy Planning & Policy- Nuclear Energy