FREAKING IDIOT SHE IS AS SHARP AS THE MSBU ! FUNNY HOW THESE DOUCHBAGS RUN TO THE COURTS .."OH PLEASE BAIL ME OUT OF MY MILLIONS STUPIDLY LOST OH MIGHTY GOVT!"
OF COURSE OTHER THAN THAT THEY HATE THE GOVT
Sep 27, 2013, 6:41am EDT Updated: Sep 27, 2013, 7:57am EDT
Novartis heiress sues over Fall River startup led by MIT, Harvard worthies
Galen MooreWeb Editor- Boston Business JournalEmail
Corinna von Schnoau-Riedweg has invested $14 million into Continuum Energy Technologies, a materials company based in Fall River, Mass. Now, she reportedly says she was duped by her money manager.
Continuum was founded in 1999 by former Massachusetts Institute of Technology administrator John Preston with an MIT-trained scientist, Christopher Nagel. Harvard Business School Professor Michael Porter is the chairman of the company, which is developing ways to magnetize ordinary materials.
The Boston Globe's Shirley Leung reports Continuum's executives say the company could be 18 to 24 months away from a preliminary product release (subscription).
But in her lawsuit, von Schnoau-Riedweg alleges her banker, Baron Wilfrid von Plotho, and Rothschild Bank of Switzerland, alleging von Plotho mismanaged $77 million of her money – an inheritance from her grandfather, whose drug company, Geigy, eventually became Novartis. She's also suing Preston and Porter, the Globe reports.
According to the lawsuit, von Plotho also invested in two other companies in which Preston was involved. One of those, a Texas energy technology company, filed for bankruptcy in 2011. The other, C Change Investments, paid its partners $500,000 to over $1 million and its shares are now worthless, the lawsuit alleges, according to the Globe. For her $14 million investment in Continuum, the heiress got 2.5 percent of the company's stock. Her banker, von Plotho, got share options and a seat on the board, according to her lawsuit.
Preston and a Rothschild Bank spokesman both denied the accusations made in the lawsuit.
OF COURSE OTHER THAN THAT THEY HATE THE GOVT
Sep 27, 2013, 6:41am EDT Updated: Sep 27, 2013, 7:57am EDT
Novartis heiress sues over Fall River startup led by MIT, Harvard worthies
Galen MooreWeb Editor- Boston Business JournalEmail
Corinna von Schnoau-Riedweg has invested $14 million into Continuum Energy Technologies, a materials company based in Fall River, Mass. Now, she reportedly says she was duped by her money manager.
Continuum was founded in 1999 by former Massachusetts Institute of Technology administrator John Preston with an MIT-trained scientist, Christopher Nagel. Harvard Business School Professor Michael Porter is the chairman of the company, which is developing ways to magnetize ordinary materials.
The Boston Globe's Shirley Leung reports Continuum's executives say the company could be 18 to 24 months away from a preliminary product release (subscription).
But in her lawsuit, von Schnoau-Riedweg alleges her banker, Baron Wilfrid von Plotho, and Rothschild Bank of Switzerland, alleging von Plotho mismanaged $77 million of her money – an inheritance from her grandfather, whose drug company, Geigy, eventually became Novartis. She's also suing Preston and Porter, the Globe reports.
According to the lawsuit, von Plotho also invested in two other companies in which Preston was involved. One of those, a Texas energy technology company, filed for bankruptcy in 2011. The other, C Change Investments, paid its partners $500,000 to over $1 million and its shares are now worthless, the lawsuit alleges, according to the Globe. For her $14 million investment in Continuum, the heiress got 2.5 percent of the company's stock. Her banker, von Plotho, got share options and a seat on the board, according to her lawsuit.
Preston and a Rothschild Bank spokesman both denied the accusations made in the lawsuit.