PREPA Bondholders Demand FOMB Accountability Over $5.9 Billion Contract Facing Forgery and Fraud Allegations

SAN JUAN, Puerto Rico–(BUSINESS WIRE)–Certain bondholders (the “Bondholders”) of the Puerto Rico Electric Power Authority (“PREPA”) today issued the following statement regarding the Financial Oversight and Management Board for Puerto Rico’s (“FOMB”) approval of a $5.9 billion, ten-year temporary power generation contract (the “Power Generation Contract”) between PREPA and Power Expectations, LLC, Enchanted Rock, LLC, and Reyes Contractor, LLC. For close to a decade, the FOMB has directly ove

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