By Jake Kincaid | PinalCentral
The operations of a company that has taken in millions of dollars in utility money from residents of San Tan Valley and Florence are a mystery, apparently even to the family that owns it.
The Johnson Utilities hearings at the Arizona Corporation Commission have revealed that the utility diverts half of its revenue to subsidiary company Ultra Management, based on testimony from Queen Creek officials and financial documents. That amounts to $15 million in payments every year.
From the witness stand, Johnson Utilities owner George Johnson was not able to identify what that company does or why it exists.
In testimony similar to his father’s, Chris Johnson had few answers on Tuesday when it came to Ultra Management.
