Tuesday, December 18, 2018

Drew Rankin, former Springs Utilities official, indicted in Derby-gate

Posted By on Tue, Dec 18, 2018 at 1:53 PM

click to enlarge THOMAS KELLEY/SHUTTERSTOCK.COM
  • Thomas Kelley/Shutterstock.com
Drew Rankin is in a bind.

The former Colorado Springs Utilities energy generation manager who was an early backer of the Neumann Systems Group's pollution control equipment installed at Drake Power Plant downtown has been indicted with others in a scheme involving spending on lavish trips.

Rankin is the CEO of Connecticut Municipal Electric Energy Corp. where he's worked since leaving here in 2010.

He and others were indicted in November by federal prosecutors on charges of misuse of federal funds and conspiracy in planning and carrying out ratepayer-funded trips to the Kentucky Derby, which we reported in a blog post here last year.

Here's what the Norwich Bulletin reported on Nov. 8:
According to the U.S. Attorney’s office, the first indictment alleges that Rankin, Sullivan, Bilda, DeMuzzio and Pryor planned, organized and directed lavish trips outside of Connecticut, including trips to the Kentucky Derby in 2015 and 2016, and to the luxurious Greenbrier golf resort in West Virginia in 2015. These trips did not relate to CMEEC business or CMEEC member business, but were intended to personally benefit, compensate and reward the co-conspirators, their family members, friends and associates, federal officials allege. Costs for the trips, which totaled more than $800,000, included travel expenses, private chartered airfare, first-class hotel accommodations, meals, tickets to sporting events, golf fees, souvenirs and gifts.
Here's the Hartford Courant's version:
The managers of a small, eastern Connecticut electric utility cooperative say one of their core values is to “Learn from mistakes.” There could be a lot of learning opportunity in coming months at the Connecticut Municipal Electric Energy Cooperative.

The U.S. Attorney’s office disclosed Thursday that five top officers of the coop board of directors have been indicted for embezzling hundreds of thousands of dollars from members and rate payers and spending the money on posh Kentucky Derby junkets and lavish golf outings for themselves, their families and their friends.

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