by Talk Business & Politics staff (staff2@talkbusiness.net)
A federal jury in Fayetteville has found two Arkansas men guilty of fraud and money laundering in connection with the development of a wind turbine that was never operational and a proposed wind farm project in Washington County that was never constructed. The convictions were detailed in a press release Friday (Sept. 3) from the U.S. Department of Justice.
According to court documents and evidence presented at trial, Jody Davis of Searcy and Phillip Ridings North Little Rock formed a limited liability company in Texas in 2014 called Dragonfly Industries International LLC. They also created an Arkansas LLC called Arkansas Wind Power (AWP). They told investors they planned to develop a revolutionary wind turbine design on a 311-acre wind farm proposed for construction in Elm Springs.
