Cameron J. Potter: Former CFO of ‘Green’ Group Pleads Guilty to Skimming Federal Funds
|September 15, 2011||Posted by Beth Shaw under Issues|
Cameron J. Potter is a former CFO of ‘green’ group who has plead guilty to skimming Federal funds. Read more abut it below and see his mugshot photo.
We are always told that the ‘green’ in the greenies movement is all about the good green Earth, but one scandal after the next in the ‘green’ movement is exposing that the ‘green’ in the green movement stands for an entirety different green. The green of hard cold cash.
And all these ‘green’ groups seem to be getting their riches from our tax dollars through the Federal government. Take Cameron J. Potter, former CFO of the Southern Alliance for Clean Energy for instance. He’s just plead guilty of fraud.
The former chief financial officer for an organization devoted to promoting green energy admitted Tuesday he succumbed to the allure of another green — cash money.
Cameron J. Potter pleaded guilty Tuesday before U.S. District Judge Thomas Phillips to bilking the Department of Energy of more than $400,000 intended for legitimate use by the Southern Alliance for Clean Energy to promote renewable energy sources, typically dubbed “green energy.”
Potter, 31, was employed as the chief financial officer for SACE when, in 2006, he concocted a scheme to siphon off money awarded the advocacy group by the DOE for his own personal gain, Assistant U.S. Attorney Frank Dale told Phillips.
“He created false invoices and submitted those invoices to SACE for payment,” Dale said.
Stephen Smith, the alliance’s executive director, said today that he and senior managers uncovered the scam more than two years ago, fired Potter and notified federal authorities.
According to a plea agreement brokered between Dale and defense attorney Donald A. Bosch, Potter admitted to a scam that spanned three years. He pleaded guilty to wire fraud and money laundering as part of the plea.
Dale said Potter set up accounts through PayPal, an online banking service, which bore names similar to businesses SACE typically used to carry out various consulting services. He then crafted invoices for work never performed and paid them through the SACE’s American Express account.
“Potter then electronically transferred the stolen funds from his PayPal accounts to his own bank account,” Dale said.
Dale listed in the plea agreement a 2007 purchase by Potter using the purloined money of a 1998 Lexus as evidence of the money laundering count.
As part of Tuesday’s plea, Potter agreed to give up any money left in both his personal bank accounts and retirement accounts that were funded with his ill-gotten gain.
Bosch told Phillips that Potter is a “permanent resident of Australia” and may face deportation as a result of his conviction in the embezzlement case. Dale said it’s not clear yet whether Potter was a legal resident of the United States during the embezzlement scheme.
SACE is a constant critic of the Tennessee Valley Authority and its coal-fired generation of electric energy.
Potter remains free on bond pending sentencing in January.