It should come as no surprise that Lynn Tilton and her "Patriarch Partners" have been investigated and charged by the Securities and Exchange Commission with fraud.
No Surprise At All.
For those of you that might not be up to date Tilton and this investment scheme are the paper owners of the paper mill in Gorham, NH and were much touted by the Governor and state agencies including the DRED Commissioner about how many jobs would be saved and what a boon it was for Gorham.
I'm confident that the SEC investigation involving fraudulent financial statements is rock solid and Tilton herself will definitely be indicted. This whole project was a complete sham right from the start. They're now trying to blame Natural Gas prices another sham. Any company that has exposure to any volatile commodity like Natural Gas has a hedging strategy or forward contract(s) in place.
Lynn Tilton needs to get locked up.
But it doesn't end here unfortunately, I think there is another investment scheme vis a vis sham in the New Hampshire offing. It's called Senate Bill 30 sponsored by Sen. Jeff Woodburn which proposes to uses a $28 million dollar loan guarantee to reopen the Balsams. It is my understanding the next hearing from S.B. 30 is on the 14th at 10:00am in the LOB.
Please contact your legislator and kill SB 30.