• Report: #1037566

Complaint Review: Shmuel Ovadia

  • Submitted: Sun, March 24, 2013
  • Updated: Sun, March 24, 2013

  • Reported By: Mike_Taylor — Atlanta Georgia
Shmuel Ovadia
26 Shoham St. Tel Aviv, Select State/Province United States of America

Shmuel Ovadia SDE WAVE ENERGY Publishes misleading and fraudulent information Tel Aviv, Israel

*REBUTTAL Individual responds: Response to False Allegations against Shumel Ovadia personally

*REBUTTAL Individual responds: Response to False Allegations against Shumel Ovadia personally

*REBUTTAL Owner of company: Response to false claims

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An online search on Israeli S.D.E (SDE WAVE ENERGY) Company reveals that the company publishes dishonest and misleading information and that its CEO, Shmuel Ovadia, even spent time in jail.

Apparently, the CEO of S.D.E, Mr. Shmuel Ovadia and his brother were previously arrested and incarcerated for their misconduct. Eliyahu Ovadia (Elli) was arrested a number of times for money laundering and for managing an illegal casino.

Articles about Mr. Ovadia's criminal activities are available via the following links:

http://www.ynet.co.il/articles/0,7340,L-2890511,00.html
http://www.nrg.co.il/online/1/ART1/953/834.html

Shmuel Ovadia himself, has spent time in jail around the year of 1995 (as can be seen in the Israeli courts online Data Base,): http://www.takdin.co.il/searchg/ (search for Shmuel Ovadia)

As for S.D.E Company:
SDE Wave Power Company is misleading its potential clients by issuing false information.

1. As opposed to the publication on S.D.E's web-site (http://www.sde-energy.com/) according to which "The technology has been reviewed, approved and funded by the Chief Scientist of the Israeli government (certificate No. 23425) with private and government funding of about $5 Mil"
(http://www.sde.co.il/index.php?option=com_content&view=article&id=128&Itemid=122)...
Online information reveals that Mr. Shmuel Ovadia submitted a funding request to the Chief Scientist in 2010, and that the Chief Scientist DID NOT agree to invest at all in S.D.E's technology.

2. In addition, an online data base from a court in 2012 (with S.D.E's participation) reveals the
following information about S.D.E Energy and Desalination Company (free-translation), (http://www.psika.net/106392-9516.html):

Clause 25: as to S.D.E's claim with regard to money invested in its technology, it is important to note that in SDE's financial reports, it is possible to see that from 2001 to the end of 2010 there was no investment in the company, which is contrary to the testimony of Mr. Ovadia, according to which in the years of 2002-2010 "huge amounts of money, millions, were invested in the company"As to the Chief Scientist, it is important to note that the last investment from him was made in 2001.

Mr. Ovadia confirmed this information. We will also note that S.D.E applied again for support by the Chief Scientist in 2010, and that he refused to invest in S.D.E Company. These claims contradict the claims of S.D.E according to which it invested a lot of money in the technology.

Clause 28: .S.D.E's Israeli patent expired in 1.5.11, because SDE did not pay the toll fee. In this period, the details about the invention were published in the public domain, and S.D.E did not do anything to renew it.

3. 4. S.D.E publishes on its web-site that: "S.D.E's unique technology for generating electricity from sea waves is protected by registered patents in Israel and worldwide. Holds U.S. Patent No. 5,461,862, International PCT, as well as other international and pending patents (http://www.sde.co.il/index.php?option=com_content&view=article&id=128&Itemid=122). However, an online research shows that such patent expired in the 52nd week of 2003, see
www.uspto.gov/web/offices/com/sol/og/2003/week52/patexpi.htm

4. S.D.E also publishes dishonest information about support that they supposedly received from the
World Bank:
http://www.prnewswire.com/news-releases/sdes-sea-wave-power-plant-technology-checked-and-approved-by-the-world-bank-118500934.html.

However, it is important to note that the World Bank NEVER APPROVED NOR CHECKED S.D.E's technology. Below, you can find their request to remove S.D.E's false publication ("MIGA notes that both of the statements made are false. MIGA has neither checked nor approved this technology, nor has MIGA approved any project or issued any guarantees for the investor. MIGA has requested that S.D.E Sea Wave issue a correction that retracts these inaccuracies"), http://www.miga.org/news/index.cfm?aid=2962. Nevertheless, S.D.E continues to this day to publish such false news.

5. Moreover, in a court about clause 2 (June 2012), Mr. Ovadia gave the following testimony: "I do not have a working power station anywhere in the world" . This is in stark contrast to the widespread press releases by Mr. Shmuel Ovadia himself and S.D.E Company, in which they claim to close deals for hundreds of megawatts all over the world. For example:

- misleading claims about Africa:
http://www.oceanenergycouncil.com/index.php/Wave-Energy-News/Israel-s-SDE-plans-100MW-of-wave-energy-for-Africa.html;
- misleading press release about China:
http://www.renewbl.com/2010/04/19/sde-to-complete-first-sea-wave-power-plant-in-china.html;
- misleading press release about
Sri-Lanka: http://www.sundaytimes.lk/080323/FinancialTimes/ft303.html

How can SDE build 100MW, when they dont even have one working power plant in 2012, after 17 years of operation? Also, if they have orders for hundreds of megawatts, how come the company does not show any investments whatsoever since early 2000?

6. In 2006, S.D.E published all over the media that they are going public
http://www.globes.co.il/serveen/globes/docview.asp?did=1000336140. This of course never happened...

7. In August 2001, Shmuel Ovadia, on behalf of SDE company published that S.D.E had finalized a $USD70 Million deal in south America (http://lib.cet.ac.il/pages/item.asp?item=3647). Where is the station? Where are the revenues from such station?

8. In 2005, SDE published that had finalized a$ USD30 Million deal with a Chinese electric company
(http://www.ynet.co.il/articles/1,7340,L-3186102,00.html) Where is the station? Where are the revenues from such station?

Please be extremely careful from engaging with this company...

This report was posted on Ripoff Report on 03/24/2013 10:57 AM and is a permanent record located here: http://www.ripoffreport.com/r/Shmuel-Ovadia/Tel-Aviv-Select-StateProvince-69359/Shmuel-Ovadia-SDE-WAVE-ENERGY-Publishes-misleading-and-fraudulent-information-Tel-Aviv-I-1037566. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 REBUTTAL Individual responds

Response to False Allegations against Shumel Ovadia personally

AUTHOR: SDE - ()

Nowadays it is easy to spread false information about a person for personal satisfaction or self gain. 

I was the first to invent the SDE Wave Energy technology and the hydro-pneumatic system (you can check the US Patent Office to confirm this fact) needless to write that I am a law abiding citizen.

http://en.wikipedia.org/wiki/SDE_Sea_Waves_Power_Plant

As an individual, I have also served my country in the military.

Many Prime Ministers have sent me thank you notes for my recommendations to improve government activities and for my role as an entrepreneur. 

I have been invited to many government meetings to help promote cooperation between Israel and other nations of the world.  Prime Minister Rabin sent the first sports and cultural delegation to China on my recommendation. In 1992 there, prior to this there was no official contact between Israel and China. 

Furthermore, I have submitted many recommendations to the Israeli government that have also been implemented. Many of these recommendations are still classified. 

My wife, four children and two grandchildren and anyone who personally knows me understand that the harsh words written against me are groundless. I would like any rational person reading this to understand this as well.   

Any person wishing more information about this issue is welcomed to contact me directly.

http://www.linkedin.com/pub/shmuel-ovadia/14/2b8/230

Thank You,

Shumel Ovadia

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#2 REBUTTAL Individual responds

Response to False Allegations against Shumel Ovadia personally

AUTHOR: SDE - ()

Nowadays it is easy to spread false information about a person for personal satisfaction or self gain.

I was the first to invent the SDE Wave Energy technology and the hydro-pneumatic system (you can check the US Patent Office to confirm this fact) needless to write that I am a law abiding citizen.

http://en.wikipedia.org/wiki/SDE_Sea_Waves_Power_Plant

As an individual, I have also served my country in the military.

Many Prime Ministers have sent me thank you notes for me recommendations to improve government activities and for my role as an entrepreneur.

I have been invited to many government meetings to help promote cooperation between Israel and other nations of the world.  Prime Minister Rabin sent the first sports and cultural delegation to China on my recommendation. In 1992 there, prior to this there was no official contact between Israel and China.

Furthermore, I have submitted many recommendations to the Israeli government that have also been implemented. Many of these recommendations are still classified.

My wife, four children and two grandchildren and anyone who personally knows me understand that the harsh words written against me are groundless. I would like any rational person reading this to understand this as well.

Any person wishing more information about this issue is welcomed to contact me directly.

http://www.linkedin.com/pub/shmuel-ovadia/14/2b8/230

Thank You,

Shumel Ovadia

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#3 REBUTTAL Owner of company

Response to false claims

AUTHOR: SDE - ()

Our company has the best accumulated knowledge in sea wave power plants in the world. We have build 12 models in Israel in the Jaffa port and two power plants for Chinese investor of 150kw each.

Our technology was chosen no. 1 in sea wave energy by independent PesWiki scientists. They have examined the top 100 clean technologies in the world. It is a Wikipedia site and they do not take money for publications. Anyone reading this report will see this has nothing to say against SDE's technology. SDE was the first to invent the hydro pneumatic system in sea waves.

This report is composed of lies and half of the truths delivered in poorly communicated fashion.

Former Shell Oil CEO John Hofmeister, recently said to the British magazine 'The Independent', if once the price per barrel was $5, in the near future it will be more than $150. He added that the countries that will not be able to develop alternative sources of energy will go into bankruptcy. Even if take the raise of prices from $10 to $100 it means a 1,000% change in the price. A country cannot change its energy budget in 1,000% this is one of the reasons for global economic recession that leads the US and Europe without foreign currency in their wallet. On the other hand OPEC countries are building towers made of gold. Since a lot of money is on the line we will face bigger resistance and that is why we will have to be in a low profile as much as possible.

SDE has no financial problems. We have been working for 17 years with the same bank. Never has one of our checks bounced and we have never taken on a single loan. We always work with what we have. Making the best of what we have.

El Salvador

There is a person with private property including access to the ocean and a hotel. We want to build a power plant generating electricity for the hotel and for nearby small villages. He is working to raise the capital needed. We have a NDA singed with him and the presentation he made with our materials. The press release was made jointly with him. Once he gets the required financing and a working power plant, naturally he would like to expand it to larger markets. Up until now the finance has not been raised, but he is still working on it. We can send relevant documents to anyone who contacts our team about this concern. There is no false information since we only published what we agreed on.

1.       Chief Scientist

Please contact one of our staff directly to see a translated certification of the Chief Scientist approval number 23425 in accordance to the investment made in SDE of 791,730 NIS. There is no false information. We will also forward in an email received for the chief scientist referring the fact the grant was not approved for the second time. Due to the fact that they did not approve this grant SDE asked the office to cancel our commitment to pay them royalties from the model power plants. They did not approve the grant because they had no budget left for 2010 and that is why SDE was not approved. Our systems work and generate electricity so they did not agree to close the file and withdraw our royalties. Please feel free to call them and verify any detail you would like to receive.

2.       Investments

Please contact us and show us any court numbers and dates of any amount of money that was received by SDE. We are not aware of any. Our CPA can show you our yearly balance. Please understand that the court did not give its final verdict. The Chief Scientist Office did not invest their money again in 2010 but investments were made in SDE along the years. Our CEO still invests his own money in SDE until this day. Chinese have invested thousands of dollars and so have investors from Mexico, Spain, Chile and so on. Using court protocols from a case which is still ongoing is unethical. For some reason this reporter is not willing to wait for the final judgment.    

On a personal note: In 2/2000 our CEO's leg was almost disconnected due to an accident. We had one of our models working in the Jaffa port at that time. A screw from a buoy was loose and the buoy fell into the water. We picked it up back from to the sea wall and a big wave came slamming the buoy on his leg. He spent 14 days in the hospital just to get it connected back to his body. He spent another year in cast with metal reinforcement to get his leg back in place to the point where he can use it again. It took us a few years to get operations back to how they were before. It was during this period that our firm did not function as usual.

3.       Patents

SDE has been registering patents for many years now. We always state the year that the patents are registered and we make new applications once new changes are made for the technology. We have also made an international application for a PCT made in 2009. SDE recently made a new application in the UK.

4.       Miga

Please contact us to see the letter from Miga. We never made any publication telling beyond what is written in this letter. If a web site decided to attract more readers and make more than there was to it, it was not in SDE's control. As we all understand SDE cannot control everyone who decides to sit on a keyboard and write something. As the saying goes, it does not matter what they write about you just make sure they do not misspell your name…

5.       Working power plant

SDE never claimed to have a working power plant. Any website saying otherwise writes so on his its own behalf.

6.       Going public

SDE has checked the possibility of going public in the past and confirmed a few options. SDE considered the possibility to buy a shell subsidiary (TVGTF) in the form of stock for 10% of the company's shares. In the end it did not work out.

7.       $70M in South Africa

 Never has SDE claimed to build a power plant or made an agreement it this size. In the past there were times that SDE spoke about MOU's or other documents singed at the preliminary stage but independent reporters have made it into something else.

8.       Chinese electric company – YUDEAN GROUP

True. SDE signed with Guangdong Yudean Group co. ltd, on an MOU. It is one of the largest electric companies in China and probably in the world as well. We decided to make an agreement with our current partners who offered us besides the building of power plants to receive shares at the local factory that they will build for our power plants parts.

We hope you find this information helpful. If there are still any open questions please feel free to ask.

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