Promoter of Bogus Green Energy Firm Based in Montgomery County, Wayde McKelvy Sentenced to 18 Years for $54 Million Ponzi Scheme

PHILADELPHIA (STL.News) Acting United States Attorney Jennifer Arbittier Williams announced that Wayde McKelvy, 59, of Aurora, Colorado, was sentenced to 18 years in prison, five years of supervised release, and ordered to pay $37 million restitution today by United States District Judge Joel Slomsky for operating a $54 million Ponzi scheme in one of the largest green energy frauds in U.S. history.

In October 2018, the defendant was convicted after trial of seven counts of wire fraud, conspiracy to commit wire fraud, securities fraud, and conspiracy to engage in securities fraud.  The government established at trial that McKelvy and his co-conspirators ran an elaborate Ponzi scheme operating as Mantria Corporation, which received more than $54 million in fraudulently obtained new investor funds.  The group promised…

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