Green Power Owner Sentenced to Four Years for Pasco Fraud
The owner of a company that defrauded millions from investors in an aborted Port of Pasco green energy project will spend four years in jail.
Tuesday, U.S. District Court Judge Sal Mendoza imposed the four year sentence on Green Power owner Michael Spitzauer for the defrauding of some $13 million dollars. The money was supposed to be used for a green energy project at the Port of Pasco that would create fuel from garbage.
Spitzauer has already admitted to tax fraud, and he apologized to those he hurt financially. However, due to his extensive criminal past, which includes fraud, tax evasion and other financial crimes dating back to 1989, Judge Mendoza didn't seem swayed. Had sentencing guidelines allowed, he indicated he would have given the immigrant from Austria closer to six years.
The Green Power project was years in the making, and cost investors huge amounts of money, which experts say in fraud cases such as this, they rarely recoup. Once Spitzauer is done serving his time, he will be deported back to Europe.