Origins

They were founded on the myth of the green lantern corps which had ceased existence thousands of years ago. They knew of the energy rings, the location of the planet Oa  and the energy based powers that they wielded.  
 

Creation

  Tomar Ro  of the Xudarian race found the location in space where the planet Oa once stood and from there used technology to create a siphon to harness that energy and  rings that acted as transmitters for the siphon. The rings would give each member a narrow field of abilities but enough for them to use the myth of the corp effectively.

Life and works

The members initially presented themselves as heroes but later returned to crime. They battled the Legion Of Super-Heroes  and Green lanterns 
Kyle Rayner  and Cary Wren  before being defeated and placed in jail.