The laws of thermodynamics came heavily into play this past
week. The State of Mississippi sued KIOR
and their sponsor Vinod Khosla for fraud.
Yes thermodynamic fraud no less.
The gangrene fake company claimed to make copious amounts of liquid
transportation fuels from pine trees when in fact they did not and could not. That is the essence of the fraud lawsuit.
Also named in the suit is one Samir Kaul who is Vinod’s bag
handler. The CEO Fred Cannon and board
member Fred Whitlock are also named. If
I was filing the suit, I would have named a few other board members who signed
off on the S1 when KIOR had its IPO.
I would name one Jagdeep Singh Bachher who represented AIMCO
the Alberta provincial pension fund that is a large shareholder and bond holder
in KIOR. Jagdeep was in Deep with Vinod
Khosla and his thermodynamic fraud. He
signed off on the fraudulent S1 that brought KIOR public. Jagdeep is also in Deep in the Bloom Energy
BLOOMDOGGLE the other massive greenwashing fraud. Jagdeep now is the the Chief Investment
Officer for the University of California pension fund. I have asked the UC Board of Regents to put
him on administrative leave while they investigate his hiring to this prominent
position. Jagdeep is simply too close to
fraudsters to handle the UC pension fund.
The other person I would name is one John Melo the CEO of
Amyris (AMRS). Amyris is another another
failing green company that Khosla backed together with Kleiner Perkins of
BLOOMDOGGLE fame. Melo was another board
member who signed off on the S1 knowing the S1 was thermodynamic fraud. Both Bachher and Melo resigned from the board
in 2012. Melo resigned in February 2012.
Bachher resigned in June 2012
The S1 was filed in April 2011 and the IPO of KIOR took
place in June 2011. Luckily for Condi
Rice she became a director of KIOR after the S1 was filed. She should have read the S1 and never joined
the board, but I cannot accuse her of concocting the thermodynamic nonsense in
the S1 that help defraud the public.
OK now we have the players and we have a civil suit brought
by the state of Mississippi. If Vinod
and his henchmen pay big time, something like $100 million, the state may
settle and then not bring criminal charges.
If Vinod and his buddies do not settle for big money, I think criminal
charges should and will be brought by the Magnolia State. The SEC may bring civil and may bring
criminal charges against Khosla and his clan.
When Khosla and his buddies settle I bet part of the settlement is that
the Feds do not bring any further charges against the thermodynamic fraudsters.
I have also asked the New Zealand Superfund who are “partners”
with Aimco to divest of two multimillion dollar holding they have with Khosla
and Kleiner Perkin related companies.
The first being the $100 million US holding in Bloom Energy the
BLOOMDOGGLER where both Khosla and Kleiner Perkins are backers. The second being the $60 million US holding
in Khosla’s company LanzaTech. Khosla once “worked” at Kleiner Perkins and is
still listed as a “Partner Emeritus”.
For the umpteenth time I am asking Tony Blair and Condi Rice to distance
themselves from Khosla and for the umpteenth time I am asking Collin Powell to
distance himself from Bloom Energy. The
three former high level politicians should stick to their knitting and that is
to find weapons of mass combustion. They
simply will never be able to tell us their partners who they provide “strategic
advice” are good and green when in fact their clients are vile and gangrene.
I did attend Dr. Chu’s talk at the Marin Civic Center on
Thursday. I actually found him to be
witty and entertaining. I will blog
about his talk probably tomorrow. He had
some interesting data on the cost of PV cells and the cost of batteries for EV
vehicles. He loves Tesla but admitted
they simply did not deliver the people’s electric vehicle that was the basis
for the DOE loan that did get repaid early and in full. Dr. Chu and another prof at Stanford are
researching less expensive and less heavy batteries than the ones inside a
Tesla. Dr. Chu knows heavy, weak, and
expensive batteries are what kills an electric car. Mississippi knows that a ton of yellow pine
could not yield 92 gallons or even 72 gallons of liquid transportation fuel. That is what killed KIOR and may still put
the Khosla clan in jail.
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