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Jury convicts former Bixby Energy CEO of fraud

March 5, 2014
Associated Press

ST. PAUL, Minn. (AP) — A federal jury has found former Bixby Energy Systems chief executive Robert Walker guilty of defrauding investors, tax evasion and witness tampering.

After a seven-week trial, the jury returned the verdict Wednesday after deliberating for a day and a half.

The Star Tribune (http://strib.mn/1cCAJjw ) reports the 71-year-old Walker was found guilty of four counts of mail fraud, eight counts of wire fraud, one count of conspiracy, three counts of tax evasion for the years 2004 to 2006 and one count of witness tampering.

During the trial, prosecutors contended Walker cheated 1,800 investors out of $57 million to enrich himself and others.

Walker contends he committed no crime in the collapse of the Ramsey, Minn.-based company that initially sold corn-burning stoves, then promoted a coal-to-gas technology.

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Information from: Star Tribune, http://www.startribune.com

 
 

 

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