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Wind fraud indictment
1 December 1996
The days of tax credits may be long over, but fraudulent deals that give wind a bad name are still around according to a recent federal indictment. San Francisco area lawyer Craig M Hunt faces up to five years in prison and $250,000 in fines if he is convicted of defrauding investors in the Altamont Pass. The 58-year old was indicted on ten counts by a federal grand jury in October. Hunt allegedly skimmed nearly $1.3 million from dozens of investors who contributed to his company, Altawind Inc. He promised to buy, install and operate turbines in the Altamont Pass, which he claimed would sell power to the state Department of Water Resources. Instead Hunt allegedly diverted some 60% of the funds for his personal use, although he did install 14 wind turbines that were never operated.
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