Archive for January, 2010

Russian Olympic boss gets stung

Saturday, January 30th, 2010

As if there wasn’t enough colour already, the president of the Russian Olympic Committee has emerged as figure in the Firepower saga. Leonid Tyagachev, a close friend and regular ski companion of the Russian Prime Minister, Vladimir Putin, was part of a failed attempt to raise money for Firepower in London financial circles in 2008. My sources tell me Mr Tyagachev invested $US1 million ($1.12 million) in Firepower. He declined to comment when pressed by my SMH colleague Jacquelin Magnay.

Jacquelin worked with me on many of the Firepower stories. She is now off to the Daily Telegraph in London to work as their olympics reporter.

I also decided to update readers of the Sydney Morning Herald on the story so far.

Heat still on

Friday, January 22nd, 2010

THE corporate regulator and liquidator of failed fuel technology company Firepower will begin poring over five days of Tim Johnston’s startling evidence in an attempt to determine if legal action will be pursued.

This week saw the end of five days of examination of the Firepower boss in the Federal Court in Perth, but the Australian Securities & Investments Commission has reserved the right to recall Mr Johnston if necessary.

Meanwhile Johnston has told the ABC that none of it was his fault and he is very sorry everyone lost their money. He also spun another line about working for Green Power. In fact, my sources say he hasn’t been seen anywhere near Green Power for quite some time.

Won’t be long now before another big name emerges – caught up in the on-going soap opera. For now, let’s just say the guy who was recently off skiing with Putin.

“Grave” man denies Johnston’s story

Thursday, January 21st, 2010

A man Firepower boss Tim Johnston says was abducted by a group of bikies at the behest of property developer Warren Anderson has dismissed the claim as ridiculous.

“It’s actually ridiculous. It’s a bit offensive really, there’s no substance to it whatsoever,” Nairn told ABC radio. Funny that.

Tales of kidnap, digging graves

Thursday, January 21st, 2010
Firepower chief Tim Johnston has accused property mogul Warren Anderson of organising the chilling underworld-style kidnapping of an accountant who had refused to relinquish ownership of the intellectual rights to the fuel technology company’s controversial additives.
In a sensational day of evidence at the Federal Court in Perth, Johnston admitted that Firepower’s parent company, based in the British Virgin Islands, had never owned the rights to the fuel additives despite 1300 investors plowing their savings into it.
The scheduled five-day hearing has been extended to a date to be fixed to give Mr Johnston time to produce and be questioned on documents that he said he would seek to find and pass on to the liquidator.

Firepower caused domestic friction

Tuesday, January 12th, 2010

After a break from seeing Firepower in the news almost every day, I see the fall-out has resumed. Property tycoon Warren Anderson is defending claims he pushed his estranged wife across a room and onto the floor over a missing computer containing information about the collapsed Firepower business empire. There seem to be a lot of missing computers in the Firepower saga.