| Topic for open discussion: EU AWE
Investment Market
and Interpol Financial Crime Fighting |
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| Aug. 14, 2020, post by Dave Santos EU AWE Investment Market and Interpol Financial Crime Fighting Roland, US OIG has begun investigation of eWind to determine if waste/fraud/abuse occurred for >1M USD in public funds. You are technically aware eWind does not have a reliable all-modes MVP (minimal viable product), not even close. eWind is not unique in having little to show for large public and private investment. AWEurope's venture players are similarly failing. As the American saying goes, "the cover-up is worse than the crime." You have certain inside knowledge of EU players raising ongoing investment by pretending to be on-track to meet wild claims. You know the many missed milestones in your circle dating to around 2012, and that known causes are inherently mistaken calculations and architectural down-selects. Everything can still turn out well if AWEurope failure cases are documented as data, not hidden as proprietary Venture information. IEA TEM#102 will be the public test of which path you and AWEurope intend now. One path leads to glory, the other to Interpol. The path to AWE glory requires being answerable to all concerns, fully accountable to the public. |
| Aug. 13, post by Dave Santos EU AWE Investment Market and Interpol Financial Crime Fighting AWE is maturing as an early industry as more becomes technically known and investment risk is accordingly reduced. It is ever less viable for an AWE start-up venture to make claims to investors increasingly shown false by multiple third-party research. Existing ventures must tread carefully to continue seeking investment for technological down-selects proving to be problematic. Investors have a legal and moral right not to be mislead, especially small investors in crowd-funded schemes. Past AWE schemes have popped up, raised tens or even hundreds of millions, then failed due to false engineering assumptions. Such cases must not continue. It is still possible for unqualified parties to set up an AWE venture and get rich quick, but it is not going to be as easy. AWE is tasked to self-police not just its aviation risks, under FAA norms, but also its financial risks, under business ethics. Our community needs to get serious about Code of Conduct compliance (i.e., AWEIA's draft Code). There have already been a few complaints in AWE to undergo process. A US player was taken to task by the FAA, and forced to change testing protocols. There was a satisfactory Italian financial settlement in favor of aggrieved AWE investors. The US OIG is looking into possible waste/fraud/abuse of public funding of an AWE venture. EU is a hotbed of AWE ventures making claims to investors that their technical prospects do not well support. Interpol will get involved if these cases blow up. |