BAKKEN OIL BUSINESS JOURNAL

Oct-Nov14

The BAKKEN OIL BUSINESS JOURNAL is a high-gloss, full-color magazine with a targeted distribution that gets our Advertisers in front of the RIGHT EYES in this industry. Direct mailed to Companies in the Bakken with bonus distribution at Energy Shows.

Issue link: http://bakkenjournal.uberflip.com/i/389533

Contents of this Issue

Navigation

Page 28 of 67

Read online @ B A K K E N O I L B I Z . C O M / d i g i t a l - j o u r n a l 29 Eptial 1505 N Broadway Box 777 Minot, ND 58703 852.3161 • 800.735.4493 Grand Same service. Same luxury. New name. Our name has changed, but our luxurious comfort and dedicated service is still right here. From our spacious sleeping rooms and pool area to our fl exible event space, we're the same destination you know and love. And with a few additions like new menu items from our award- winning restaurant chef, we're as grand as ever. Come visit us and see what else is new. capacity and to top it off, he was proposing to be breaking ground by the spring of 2015. He also said that the Billings project would create 100 to 150 permanent jobs that would pay at least $100,000 dollars per year. When something seems too good to be true, then it probably is. In fairly short order and some Internet research one can find out quite a bit about Quantum Energy and its CEO, Andrew J. Kacic. In the August 19, 2014 , the day of the Yellowstone County Commission meeting, Kacic stood in front of Yellowstone County Commissioners, John Ostlund, Jim Reno and Bill Kennedy were promised a new oil refinery would be build in Billings, Montana. After some research Mr. Andrew J. Kacic, formerly of Arizona, was found to have a fairly extensive history of shady business deal- ings. The information was obtained from court documents in his Arizona divorce proceedings. He has numerous other civil cases listed in which he was the defendant, mostly it seems for not pay- ing his bills, but the divorce proceedings cover a complex web of business dealings that you can read about below. I think it is important to emphasize that his divorce is irrelevant. In fact, Andrew J. Kacic is irrelevant. What is relevant is the due diligence not done by the Yellowstone County Commissioners John Ostlund, Jim Reno, Bill Kennedy and Steve Arveschoug, ex- ecutive director of Big Sky Economic Development prior to the August 19th meeting. With some basic research, it was revealed Mr. Kacic starts busi- nesses, tries to find investors and then uses the company and a private non-profit "foundation" for his own personal piggy bank while actively trying to avoid taxes and creditors. For example: "Husband operates his business interests through a maze of in- terrelated business entities, which appear to have business and tax avoidance purposes." A summary of the court findings found that Mr. Kacic was not a credible witness to the proceeding and found him difficult and untrustworthy. ➤ continued, pg 30 ➤ continued from pg28

Articles in this issue

Links on this page

Archives of this issue

view archives of BAKKEN OIL BUSINESS JOURNAL - Oct-Nov14