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February 21, 2005 REINFORCE PUBLIC EQUITY Civil RICO suit against Enron-Powerex "prepaid" partners A Provincial enactment of the 1960 Canadian Bill of Rights Reform BC invites you to explore text and links below as they relate to parts of the second of five issues that the Party will bring into the May 17, 2005 election campaign. Issue 2a: Reform BC proposes a $3 billion civil RICO claim for damages to public equity in the B.C., Alberta, Washington State and California energy markets against the CAI group of custodians, lenders and off-book partners in Enron, Powerex and B.C. Hydro. Issue 2b: Reform BC will reinforce the protection of public equity and personal property rights for British Columbians through a provincial enactment of the 1960 Canadian Bill of Rights… Issue 2a: Reform BC proposes $3 billion civil RICO claim for damages to public equity in B.C., Alberta, Washington State and California energy markets against CAI custodians, lenders and off-book partners in Enron, Powerex and B.C. Hydro. A Reform BC government will ask for intervener status with Alberta, California and Washington State in any claims they have considered or brought against the "prepaid" off-book partners and insiders of Enron, Powerex and B.C. Hydro. Reform BC proposes that public-sector victims of alleged rigging of domestic energy markets join a $3 billion civil RICO (Racketeering Influenced and Corrupt Organization) claim for damages against the CAI group of custodians, lenders and off-book partnerships and any "prepaid" insiders at Enron, Powerex and B.C. Hydro. We note that California has filed a $1billion lawsuit against Powerex, the energy-trading arm of B.C. Hydro, seeking restitution for gouging of the state agency that bought power on behalf of ratepayers during the California energy crisis of 2000 and 2001. We note that after the May 2001 provincial elections, the new Liberal government appointed Larry Bell as chairman of B.C. Hydro, the parent company of Powerex. We believe that the former NDP and the later Liberal governments knew or should have known in 2001 that Mr. Bell, being one of 26+ CAI special investors, a director of TransAlta and potentially a "prepaid" fiduciary would be in a conflict of interest at B.C. Hydro. We note that Alberta's power pool alerted the Canadian Competition Bureau in 1999 to "behavior that appeared to be consistent with criminal bid rigging" on the part of Enron and Powerex." In 1999, Alberta's "legacy" utility firms, including TransAlta Corp. and Atco Ltd., were responsible for generating and supplying electricity with the one exception where Enron and Powerex imported power from B.C. Hydro through an inter-provincial tie line. Alberta has now asked a Washington state utility for evidence allegedly showing Enron used Alberta to test a trading scheme called "Project Stanley" that was later blamed for worsening California's energy crisis in 2000 and 2001. In 2003, the B.C. Liberal government appointed Mr. Bell, still chairman of B.C. Hydro, to be a director of a B.C. Hydro-Accenture off-book partnership. Mr. Bell is now marketing B.C.'s "surplus" energy through offshore trading desks in the tax haven of Bermuda. We note that in August 2000, Accenture changed its name from Arthur Andersen Consulting, presumably to distance itself from emerging "prepay" scams and fraudulent conversion of public (shareholder or taxpayer) equity in Enron and its suppliers such as B.C. Hydro. Reform BC believes the provincial NDP and Liberal governments have lost the right to custody of public equity in the province having negligently or willfully risked the public interest by failing to monitor operations at any of the provincial Crown corporations and, in particular, the energy trading activities of B.C. Hydro and its subsidiary Powerex. Issue 2b - Reform BC will REINFORCE public equity and personal property rights with a provincial enactment of the Canadian Bill of Rights. As it stands the Canadian Bill of Rights, enacted in 1960 by consent of the Senate and House of Commons of Canada is no more than a statute as it was not enacted or proclaimed by any constitutional amendment process. Currently the Canadian Bill of Rights applies only to federal jurisdiction; it does not apply to legislation of the provinces. Reform BC will REINFORCE property rights by a provincial enactment of Canadian Bill of Rights to defend, in particular, the "right of the individual to life, liberty, security of the person "and enjoyment of property", and the right not to be deprived thereof except "by due process of law". A Reform BC government will thereby protect public equity and personal property rights of its citizens against the consequences of negligent or willful omissions of property rights from the 1982 CANADIAN CHARTER OF RIGHTS AND FREEDOMS by then Canadian Prime Minister Pierre Trudeau and Justice Minister Jean Chrétien. Reform BC believes that the federal Liberals' omission of personal property rights has allowed "asymmetrical-socialist" governments in Canada to violate provincial property rights through the tactics of predatory lending by insiders, hedge fund managers and the self-styled "Global Custodians". For example, the federal government has committed provincial citizens to the arbitrary debts, penalties and liabilities associated with hedge fund managers behind the U.N. fraud and the Kyoto Accord. -30- For More Information contact: |
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