Arkansas wind farmers claimed their technology was more efficient than turbines — but they spent investors’ money on houses, cars and at Disney World

Two Arkansas wind farmers who raised hundreds of thousands of dollars to build a “revolutionary” turbine that would turn the industry on its head, have been convicted of stealing the cash to buy cars, a house and trips to Disney World DIS, +1.85%.

To make their case, the men provided doctored reports from nationally recognized engineering firms and the University of Memphis claiming the technology worked, the prosecutors said. But prosecutors say the technology didn’t work and the men never tried to build a prototype. Instead, they kept the money for themselves and used it to buy luxury cars, pay for holidays and gym memberships, and for the down payment on a home.

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