Guru Tony Strikes Oil

Very perceptive article by Nicola Tallant on p8 & 9 of the Sunday World September 6

Sunday World Oil Storyp8 6909

Sunday Worldp96909

MUCKY Messiah Tony Quinn has struck oil and is on the
verge of becoming a billionaire after muscling his way to the
top of a company pumping thousands of barrels of black
gold a week.
Quinn is hoping he can join the ranks of the Texan barons after a team of his
devoted followers appointed him as a director of their company.
But the controversial mind guru is now at the centre of a massive boardroom
bust-up over his bizarre appointment and the influence he appears to have
over his fellow directors.
Quinn, who some followers believe is Jesus Christ, is facing allegations that
he has muscled in on the company
which was set up seven years ago by
two avid followers of his Educo cult,
and that he is now creaming the profits
for himself.
Furious shareholders are also looking
for answers about a golden handshake
of $20 million in free shares he
was gifted when he was voted onto
the board and whether or not he is
now using profits to send company
associates on his own €60,000 a pop
seminars.
Battle
The fight over the oil company
International Natural Energy (INE)
has been brewing since 2007 when
Quinn was appointed as a director –
two years after it struck oil in the
impoverished Central American country
of Belize.
Incredibly, immediately after his
appointment he announced on a
Dublin stage that only ‘Educoists’, or
his followers, could now become
shareholders.
To date, its 350 Irish shareholders
have not received a penny in dividends,
despite the fact that INE has
been pumping up to 5,500 barrels of
high-grade oil every week, at
a current market value of
around €50 a barrel.
Sources say that despite
requests, no company
accounts have been furnished
to shareholders who
are concerned how the company
is spending money.
The shareholders will
attend an AGM in Dublin
next week where Quinn has
promised they will be “pretty
happy” with the good
news he has to share with
them.
But the Sunday World can
reveal that an unofficial
shareholders’ meeting will
take place today in advance of the
AGM, where concerned
investors will meet to air their
worries about Quinn’s involvement
in the company and how
their money is being spent.
“There are concerns among
the investors about Mr Quinn’s
involvement. It is our feeling that
having a cult leader as the face of the
company is damaging to its value,”
said an inside source.
“The shares were once worth $400
but as far as we are concerned, they
are worth nothing at the moment
because nobody would buy them.
“We want to try to resurrect their
trading value and to do so we need
answers.We have a six-page list of questions
we want answered and most of
them concern Tony Quinn.
“The company has been telling us
nothing since 2007.We have no disclosure
about how much is being spent
on explorations, we have no idea
about its reserves or how much has
been borrowed.
“There have been a number of
changes in directors since then and
we have been told nothing whatsoever.
What we are left with is Quinn
there – with other people he appears
to have a lot of influence over – and of
course, a deafening silence.”
Among the six pages of questions
that the group wants answered is
whether or not the company has paid
the company?
“It is our opinion that the
directors were all influenced by
him when he was appointed in
2007. Since then there have
been a lot of changes in directors
and it appears that Quinn has
muscled in to take the company
over.”
INE was set up in 2002 by Northern
Irish businesswomen Susan Morrice
and Sheila McCaffrey, Belizean surveyor
Mike Usher, who has since
passed away, and businessmen Paul
Marriot and Jean Cornec.
They raised funds in Ireland by selling
shares, largely among followers of
Quinn’s Educo group, although the
guru himself is believed to have advised
investors against putting money into it.
His business manager, Collette Millea,
told followers that Tony was not endorsing
the sale of the shares.
However, when in 2005 the then 82
shareholders were informed that the
company had struck high-grade oil on
its first ever drill, Quinn decided to
take a second look at the company.
At the time, Sheila McCaffrey credited
Quinn’s mind technology for the oil
find but since then the battle for control
of the company has turned nasty.
McCaffrey is no longer a working
director and Cornec is currently suing
INE for more than 10 million dollars
sell his cut to Morrice.
INE are countersuing Cornec, saying
that a campaign of negative
remarks directed against Quinn and
Morrice has damaged the value of
the company and its attempts to
raise finance by selling shares.
In the months before his appointment
as Director of the company
Quinn was flown to Belize where he
hosted a seminar for the tiny
nation’s then Prime Minister Said
Musa, who has since been voted out.
Seminar
The seminar, which was held on the
private Caye Chapel island, is suspected
to have cost INE more than
$100,000. Quinn was brought onto
the island on a private jet with his
usual entourage, including secretary
Mary Power, and had his entire gym
shipped over from Ireland.
While in Belize, he and business
partner Mary Power were brought to
visit the first oil well, Mike Usher I.
The pair kissed it, and Quinn said
the grass there was greener than
anywhere else in the world.
In September of 2007, he was
brought onto the company board
and court documents seen by the
Sunday World detail how INE now
recognise him as a ‘founder’.
Since then McCaffrey and Marriot
have been forcibly removed as directors
and Cornec has stepped down.
Morrice’s husband Alex Cranberg,
a Texan oil baron, is now also
involved in the new set-up. In court
documents, his company CHX is listed
as a sister company to INE.
Shareholders say they have not
had an AGM since 2007, when
Quinn announced the shares were
worth $400 each, and were only furnished
with next week’s Dublin
meeting after demanding it.
This week Quinn, who is due to fly
into Ireland in the coming days, wrote
to followers of his Educo cult to
inform them that he is launching his
own newspaper Blueprint for
Successful Living and will be circulating
a million copies across the world.
He told them that the reason for
the paper is to ‘offer the answer to
defeat the recession’ and because
he sells newspapers.
“They are not putting me on the
front of newspapers every few
weeks because it depresses sales.
Quinn then informed followers
involved ‘in the oil’ that they will be
able to attend his seminar on
September 13 at the RDS and then
the INE AGM the following Tuesday.
“I believe you oil people are going
to be pretty happy at the end of the
AGM,” he quipped.
nicola.tallant@sundayworld.com

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