söndag 14 augusti 2011

Andrea Rossi - Loosing personal capital due to trials

After what happened, everything was closed and seized, as easy to understand, banks would not only refuse to grant any form of credit to companies, but also demanded the immediate return of all the granted amount, credits that helped to fund the research, experiments, construction of machinery and equipment, it’s easy to calculate thinking about the exponential growth of the activity and the need of funds to finance this significant expansion.

Ing. Rossi gave to the banks the personal capital and that of his family as guarantee, estimated, overall, about 50 billion lire but all properties had been expropriated and managed by the receivers. The financial tragedy strikes all companies of the Group. It’s bankruptcy!

Ing. Rossi got out completely stripped of all property and lacking of any kind of income.
Some company had to be charged to assess the possible environmental damage and the work needed to carry out the reclamation.

Some special agency was charged to start the disposal of thousands tons of equipment , including the already refined products and raw materials that Omar and Petroldragon had to work and to sell with profit.

The disposal is contracted out in a few days, this is very strange, given the delays that usually characterize these “assignment of work”; else very strange is the costs of these waste: in the years Omar and Petroldragon paid around 400 lire per kilogram1990 to dispose waste from the manufacturing facilities to the duly authorized disposal; for the same exact operation, the same of Omar Petroldragon, and disposal of raw materials and finished products stored at the plants, despite of being commercialized, the cost reached amounts absolutely out of the market, with a mean value of 1500 lire / kg.

Even the timing in allocation of funds that needed to be paid for these expensive reclamation, was also somewhat anomalous, since in general those funds made available in years, even in case of the same “ecological disaster”. 

Each one can draw their own conclusion about this abnormal difference in price between what is custom and what happened in this particular case.

It’s evident that the financing to recover the funds for disposal was already planned, it had already been prepared since a long time, probably even before the unfolding of events that led the Ing. Rossi in jail. Even in this case, each one can draw his deductions.

Again, we stress the strange coincidence in time between the closure of Andrea Rossi activity and the beginning of the waste commercialization of Camorra.

All of the above, has been widely documented and demonstrated during Ing. Rossi trials.
In the next 17 years Andrea Rossi will go on 56 trials that, due to the total lack of property and assets (previously estimated at 50 billion lire), and to the bankruptcy of firms, will force him to fill up with debts that he is still paying.

Those 56 prosecutions, for which he was incarcerated, end up with an acquittal of all processes for tax reasons, derived from bankruptcy by the closure of Omar and Petroldragon, 5 of them ended with a conviction, which would justify the period of preventive imprisonment for the accusations that led to the arrests. All other requirements ended up in acquittals.

Omar Petroldragon customers themselves, testified for Ing. Rossi, even those who have suffered seizures and damage claims for having business relationships with companies of Rossi.
Despite the acquittal and the evidence of the truth of what promised by the production methods the industrial activity was inexorably compromised and nothing could be done to recuperate the situation.

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