Three charged in 'Green Energy' ponzi scheme

03-Sep-2015
According to the U.S. Attorney's Office, Troy Wragg, 34, a former resident of Philadelphia, Pa., Amanda Knorr, 32, of Hellertown, Pa., and Wayde McKelvy, 52, of Colorado, are charged with conspiracy to commit wire fraud, conspiracy to commit securities fraud, securities fraud, and seven counts of wire fraud. As the founders of the Mantria Corporation, Wragg and Knorr allegedly promised investors huge returns for investments in supposedly profitable business ventures in real estate and "green energy."

According to the indictment, Mantria was a Ponzi scheme in which new investor money was used to pay "earnings" to prior investors since the businesses actually generated meager revenues and no profits. To induce investors to invest funds, it is alleged that Wragg and Knorr repeatedly made false representations and material omissions about the economic state of their businesses. (by www.wfmz.com)