News Summary: Pakistan court shuts power plants
Published: May 29, 2012
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SHORT CIRCUIT: Three things soured Former Oklahoma governor David Walters' multimillion-dollar investment in Pakistan's power sector: the inability of the government to provide fuel, a shoddy grid and the country's activist Supreme Court.
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POWER POLITICS: Lawmakers alleged the businesses were little more than a scam. The court declared the plants and similar projects under way since 2006 illegal. Judges ordered criminal investigations, saying corruption marred the bidding process.
FAIR PLAY?: Walters denied any wrongdoing and said the contracts were vetted by seven government agencies. He said the payments he made were standard in such arrangements around the world.
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