To Whom It May Concern,
If you are considering doing business with us, I would like to first disclose a few items to you.
My name is Sam Puleo and I am the owner of Puleo Energy. I entered the energy business in 2010 by co-founding MSGE LLC. MSGE acted as a sales agent for a licensed electric/gas supplier. In 2011, I co-founded Coastal Energy Consultants LLC, an energy brokerage firm. In 2012, the company began taking limited power of attorney on behalf of our large customers to lock in energy prices at certain strike points in the market. In addition to the many accounts we transacted successfully, we did not handle 5-6 large customers' contracts properly. The strike prices were very low and we made a terrible decision to only lock in the commodity portion of the contract in order to close the deals and earn a commission. Because the POA did not authorize us to do this, we committed fraud. The unhedged portion of the contract created a higher energy cost for those customers. The customers were then let out of their contracts by the energy supplier and a large liability was due for “early termination fees” in addition to the customer overages. I was federally indicted in late 2013 and ordered to pay $819,000 in restitution. A copy of the article outlining the indictment is in the following link for your review: https://www.justice.gov/usao-edpa/pr/three-charged-energy-pricing-scheme .
In 2015, after I completed my sentence of incarceration and house arrest, I inquired with State Regulators as to my options to re-enter the energy supply business. They allowed me and Puleo Energy to re-enter as a subcontractor of a licensed energy broker. Since then, we have successfully contracted many commercial customers.
In Summary, I am remorseful for my actions, and believe I have learned a great lesson from my terrible mistake. It is important that you are aware of these details. I am working hard to right the wrongs of my past, pay off my debts, and build something my family and I can be proud to call ours. Thank you.
Owner, Puleo Energy