Lawsuit – Baldwin Biofuels entrepreneur to pay $10.4 million
Posted by keelynet on July 19, 2009
Again, but does the technology WORK?
“Montrose resident Jack Boykin spent years pitching a revolutionary invention to produce cheap biofuel from vegetable matter — a process so fantastic is seemed, to some, just too good to be true. On Monday, a federal jury in Mobile determined it was too good to be true, and ordered Boykin’s company to pay more than $10.4 million to a New York-based paper company that invested in the endeavor.
Boykin vowed to move forward with his process, which he still maintains works. His attorney, Forrest Latta, repeatedly described America as the Saudi Arabia of trees and cropland, and said Boykin’s process has the potential to transform the world.
Found liable – The jury found Cello Energy and the partnership that owned it, Boykin Trust, liable for $2,827,123 for breach of contract with Parsons & Whittemore, which owns a pair of pulp mills in Monroe County. The jurors also held the companies, along with Boykin and his son, Allen Boykin, personally liable for another $104,537.50 for committing fraud against Parsons & Whittemore. The jury also assessed $7.5 million in punitive damages against all of the defendants.” – Source
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