SEC Charges Wind Turbine Company and Individuals With Defrauding Investors

The Securities and Exchange Commission today announced charges against Thunderbird Power Corp., an Arizona-based company claiming to be developing a wind turbine technology, and three individuals for defrauding investors out of more than $1.9 million in the unregistered offer and sale of Thunderbird stock. According to the SEC’s complaint, Thunderbird’s CEO Richard Hinds (of Arizona), former Thunderbird president Anthony Goldstein (of Canada), and consultant John Alexander “Lex” van Arem (of Canada) orchestrated the fraudulent offering and were responsible for numerous false and misleading statements in offering materials, press releases, and a YouTube video regarding the status of the wind turbine technology, purported validation of the technology by a nationally known firm, and Thunderbird’s use of investor proceeds.