Puerto Rico: $300 million recovery contract awarded to tiny utility company linked to major Trump donor

Source: The Daily Beast

“Puerto Rico has agreed to pay a reported $300 million for the restoration of its power grid to a tiny utility company which is primarily financed by a private equity firm founded and run by a man who contributed large sums of money to President Trump, an investigation conducted by The Daily Beast has found. Whitefish Energy Holdings, which had a reported staff of only two full-time employees when Hurricane Maria touched down, appears ill-equipped to handle the daunting task of restoring electricity to Puerto Rico’s over 3 million residents. … The private equity firm that finances Whitefish, HBC Investments, was founded by Joe Colonnetta, who serves as its general partner. FEC data compiled by The Daily Beast shows that Colonnetta contributed $20,000 to the ‘Trump Victory’ PAC during the general election, $27,000 to Trump’s primary election campaign (then the maximum amount permitted), $27,000 to Trump’s general election campaign (also the maximum), and a total of $30,700 to the Republican National Committee in 2016 alone.” (10/24/17)

https://www.thedailybeast.com/dollar300m-puerto-rico-recovery-contract-awarded-to-tiny-utility-company-linked-to-major-trump-donor