Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Feds: Company backing Utah nuclear plant is a fraud
Nuclear power » SEC says hedge fund, purportedly a major investor in Utah project, scammed investors.


< Previous Page


"The State Engineer," said Sarah Fields, program director of the anti-nuclear Uranium Watch in Moab, "did not properly investigate [Blue Castle] claims regarding the financial arrangements and utility commitments to the project."

Uranium Watch, along with more than 200 other groups, individuals and government agencies, protested the water rights change applications, with many of them questioning the finances.

Join the Discussion
Post a Comment

Jones previously told The Tribune that he has no one on staff qualified to perform detailed financial investigations and that he did not believe he was required to bring in an expert to perform such a review. Financial scrutiny of the project will come from the NRC, he explained.

It is not clear whether the SEC’s cease-and-desist action will prompt anyone to request a reconsideration of the water-rights change.

Jones said no one has requested the opportunity to present any new information about the license application so far, but there are still two weeks left to file such a request.

In addition, anyone who objects to the license will have an opportunity to appeal the decision in state court, he said.

"There’s no doubt someone will request reconsideration," said Matt Pacenza, of the Healthy Environment Alliance of Utah. "The weakest part of the state engineer’s decision by far is the part where he determined this is a reasonable plan to fund the project. It’s alarming that Blue Castle is not only refusing to tell Utahns how it plans to make this happen, but apparently also not telling the state engineer."

fahys@sltrib.com

steve@sltrib.com


story continues below
story continues below

Twitter: @judyfutah



Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Login to the Electronic Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.