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Tag Archives: renewable fuel credits
Absolute Fuels Guilty in $42 Million Bio-Diesel Credit Scam
A bio-diesel fuel company owner was sentenced to 188 months in prison for crimes connected to an illegal fuels scheme and also fined $175,000 and ordered to pay nearly $55 million in restitution. In what appears to be a badly run government program of renewable fuel tax credits, Jeffrey Gunselman, 30, the owner of Absolute Fuels was able to defraud the Environmental Protection Agency for more than a year by falsely representing that he was in the business of producing bio-diesel fuel. Continue reading
Clean Green Fuel Owner Guilty in $9 Million in Bio-Diesel Scam
A U.S. District Judge today sentenced Rodney R. Hailey, of Perry Hall, Maryland to nearly 12 years and six months in prison, followed by three years of supervised release, for selling $9 million in renewable fuel credits that he falsely claimed were produced by his company, Clean Green Fuel, LLC. Hailey, age 34, was convicted in June of 2012 on eight counts of wire fraud, 32 counts of money laundering, and two counts of violating the Clean Air Act. He has been detained since the guilty verdict.
Hailey made more than $9.1 million from selling the false credits, and used the proceeds of the scheme to purchase luxury vehicles, including BMWs, a Mercedes Benz, a Rolls Royce Phantom, a Lamborghini, Ferrari, Maserati and others, as well as real estate and more than $80,000 in diamond jewelry. In all of these transactions, Hailey generally used cash or checks drawn on accounts he controlled to make the purchase, including a check for $645,330.15 to buy his home in Maryland. Continue reading
