Northwest Indiana Discussion

One troubling factor is the dependence of Crown Point on Greg Guerrettaz analysis for the new Fire Territory and new tax on the people of Crown Point and Center Township.

Greg Guerrettaz of FSG (Financial Solutions Group) did the Due Diligence work on the Plasmatronics loan.

In FSG's Due Diligence review signed by Gregory T. Guerrettaz dated July 18, 2007 on the Plasmatronics loan, Greg Guerrettaz’s conclusion states:

“It is our opinion that Plasmatronics LLC meets the objectives of the Redevelopment Commission to assist high tech companies wanting to locate in Crown Point. In addition, in the event Plasmatronics LLC develops as projected, they will create high paying jobs in Crown Point.“

The most enticing and thoroughly deceptive part of Guerrettaz’ report deals with the marketing of the Plasmatronics device. The report to the city stated that General Motors had a prototype that was being tested at the time of the report (July, 2007) and production would begin on GM cars in 60 days (September, 2007). This was enticing but totally untrue, and, in fact, outrageous.

In the same July 18, 2007 Due Diligence review of the Plasmatronics loan, Guerrettaz indicates that Ford will have a prototype in September 2007 and Ford mass production will start in October 2007. This was also untrue.

This financial analysis reads like a study in creative writing.

It has cost the city over $650,000 including the defaulted loan and legal fees.

In my opinion, Greg Guerrettaz' figures should not be a basis for any decision whatsoever by the Crown Point City Council or by the Center Township Board.

Concurrent with Guerrettaz due diligence review of July 18, 2007 - citing GM and Ford testing of the Plasmatronics device and commencement of mass production - the Times newspaper ran a lead editorial stating that Plasmatronics was a good company and the city of Crown Point should approve the $500,000 loan to Plasmatronics.

On July 19, 2007, as a matter of public record, a Crown Point city council meeting was called for Saturday morning July 21, 2007 at 8 AM.

At that July 21 public meeting, the Crown Point city council unanimously passed the $500,000 Plasmatronics loan.

The loan has cost the city of Crown Point over $650,000. That includes $380,000 that was loaned to Plasmatronics before Allan Katz and Gayle Van Sessen blocked the last $120,000 portion of the loan, plus $270,000 in legal fees incurred by Uran and his legal team headed by city attorney Dave Nicholls. ($380,000 + $270,000 = $650,000).

It appears that Guerrettaz due diligence review may have been instrumental in the Plasmatronics loan being approve unanimously by the city council three days later.

If Guerrittaz is sued by the city for wilfull fraud and the city recovered triple damages of $1,950,000 (3 X $650,000), that could buy a lot of fire equipment.

If Uran as mayor will not sue Guerrettaz, perhaps Eldon Strong as mayor of Crown Point will. This could reduce or eliminate the need for raising taxes on Crown Point and Center Township taxpayers and voters.

That is totally incorrect.

Eldon Strong does not want to raise taxes. Eldon Strong, as trustee, has been frugal and responsible. That is why we have $1,600,000.

Uran wants to increase taxes. Uran is a spendthrift who says every Crown Point Department is operating at a deficit and he desperately needs the Center Township money.

Uran never met a consultant, lawyer or engineer he didn't want to hire - especially if they make campaign contributions.

We need to eliminate Uran as mayor - not the townships.

Had the Center Township Assessor been eliminated, we came within 600 votes last November 2 of having Carol Ann Seaton assessing Crown Point and Center Township property.

Uran became mayor, January 1, 2008. Uran, Keith Stevens and city attorney Dave Nicholls entered the Plasmatronics building when Plasmatronics left Crown Point in March 2008. They saw first hand that there was virtually no buildout - which was supposed to be the collateral for the loan. They sued Plasmatronics in June 2008. They learned from discovery of the Plasmatronics checks and bank statements that $235,000 was paid to K-2 Contruction Co for the buildout - but there was no buildout.

In December, 2008 they knew the Plasmatronics money was gone. They knew the collateral was gone. Instead of turning the matter over to the criminal authorities, they sued the building owner Ron Morris for $235,000. They stated under oath in the lawsuit (paragraph 55) that $235,000 was spent on the buildout to enrich Morris. They knew this was a lie under oath. They have run up $300,000 in legal fees for Nicholls and his legal team - who contribute to Uran's campaign fund.

The FBI is investigating the matter. They are doing a thorough job and have obtained thousands of documents.

A direct quote from the front page of Greg Guerrettaz Due Diligence review of the Plasmatronics loan states:

"GM Gas Production Prototype.............July 2007
GM Mass Production Starts..................September 2007
Ford Gas Production Prototype.............September 2007
Ford Mass Production Starts.................October 2007"

Three days after this due diligence review was released, the Crown Point City Council unanimously approved a $500,000 loan to Plasmatronics.

GM and Ford say they never heard of Plasmatronics or Greg Guerrettaz

This allegedly is criminal fraud.

In the Uran Administration, Greg Guerrettaz prepares the Crown Point City Budget.
In the Uran Administration, Greg Guerrettaz is responsible for financial projections and planning for the Bo Jackson Stadium.

Guerrittaz has been paid about $100,000 a year by the City of Crown Point.

Guerrettaz earns about the same amount as Governor Mitch Daniels.

Incredible!!