Arkansas men sentenced for fraudulent wind farm project
The Associated Press - March 12, 2022 7:49 am
FAYETTEVILLE, Ark. (AP) — Two Arkansas men have been sentenced to federal prison for fraud and money laundering related to a proposed wind farm project that was never built. Federal prosecutors say 47-year-old Jody Douglas Davis of Searcy was sentenced to 12 years and 64-year-old Phillip Vincent Ridings to eight years. Both were also ordered to pay more than $1.1 million in restitution during Tuesday’s sentencing.
Prosecutors say the two formed companies in Arkansas and Texas and fraudulently told investors they would develop a new wind turbine that was approved for a $10 million grant.
Prosecutors say Davis also failed to tell investors that he was convicted in 2009 in Oklahoma of wire fraud and money laundering.