“A Pennsylvania woman has been sentenced to prison for her role in a $54 million Ponzi scheme that was the biggest scam involving clean energy in U.S. history.
Amanda Knorr, 35, was one of three people charged over the green energy scheme that defrauded more than 300 investors from around the country.
Knorr was sentenced on Friday in Philadelphia federal court to 30 months in federal prison.
Knorr co-founded Mantria Corp with her college boyfriend Troy Wragg after they graduated from Temple University in 2005.
Authorities said they received more than $54 million from hundreds of investors within four years on false promises of green energy technology that would turn trash into fuel and ‘carbon-negative’ housing developments, neither of which were ever fully developed.
Many of the investors were encouraged to invest through get-rich seminars run by Colorado wealth adviser Wayde McKelvy.
Wragg and McKelvy are also charged in the scheme.
‘Many people lost their entire life savings,’ assistant U.S. Attorney Robert Livermore said after Knorr was sentenced, according to NBC.
Authorities said those involved promised investors huge returns for investments in their supposedly profitable business ventures in real estate and green energy. “
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Crane, Emily. Daily Mail 8 April 2019.