March 4, 2003
The state of Tennessee confirms it is looking into
the case of a local inventor who was profiled last month in a
Channel Four I-Team Investigation. The man is Carl Tilley from
Lebanon and he says his device creates energy -- enough to
power a car.
Carl Tilley sold more than half a million dollars
worth of stock to investors saying his energy-producing
invention was on the verge of selling for $2 billion. Two
former associates of Tilley's say his claims are exaggerated.
On Tuesday, they turned over paperwork to the
Securities Division of the Department of Commerce and
Insurance.
"They have jurisdiction because of the sale of
stock that we feel was an illegal sale of stock and they're
going to conduct a complete investigation into the
matter," said Walter Webb, Former Tilley
"I hope they stop the man," said Robert
Kibbey, Former Tilley
Kibbey and Walter Webb say Tilley sold stock to more
investors than he is allowed to under the law. Tilley told the
I-Team last month his invention does work and that he is
negotiating with several unnamed companies for its sale.
