Energy entrepreneurs who bilked the public
Journal Article
·
· Venture (N.Y.); (United States)
OSTI ID:6660717
The rush to invest in domestic energy development was accompanied by fraud, which has cost victims financial loss and diverted needed capital from legitimate projects. Government policies and tax incentives encouraged greedy entrepreneurs to perpetrate energy-related frauds. The three major areas targeted for abuse were tax shelters, deferred delivery contracts, and securities in companies promoting energy-related products. The courts have been lenient in the conviction and punishment of unlawful promoters, while victims who risk losing tax deductions are often reluctant to cooperate. Several case histories illustrate the activities of con artists and the rewards available to the unscrupulous. (DCK)
- OSTI ID:
- 6660717
- Journal Information:
- Venture (N.Y.); (United States), Vol. 4:11
- Country of Publication:
- United States
- Language:
- English
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