"Solar energy" thieves are getting bolder. In Ohio, a gang of green jobs gonifs began dipping into the till the next day after gullible Italian investors ponied up five million bucks.
The executives of Willard & Kelsey Solar Group, a struggling solar-panel manufacturer, began lending themselves company funds the same day the firm received $5 million from a group of Italian investors, internal financial records show.
Michael Cicak, Willard & Kelsey's chairman of the board and chief executive officer, received a $40,000 loan that day. Mossie Murphy, chief financial officer at the time, received a $30,000 loan.
The loans to five company executives totaled more than $500,000 from August to October, 2008, records show. In addition, the top five executives also received payments of almost $1 million from November, 2008, through March, 2009.
In addition to the voluntary investment from sunny Italy, Willard & Kelsey also blew through over ten million Ohio taxpayer dollars. Gullible, or complicit, Ohio government officials expected W&K to create thousands of jobs. As of this writing, almost all of W&K's employees have been laid off.
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