Company owner sentenced to 63 months in prison for renewable fuel fraud
Posted August 30, 2018
The owner of a New York-based company that bought and sold renewable fuel and fuel credits was sentenced to 63 months in prison, followed by a three-year term of supervised release, and more than $26 million in restitution for his role in a conspiracy that generated over $47 million in fraudulent EPA renewable fuels credits and over $12 million in fraudulent tax credits connected to the purported production of renewable fuel.
The company owner engaged in a scheme with seven others from four different companies to fraudulently claim EPA renewable fuels credits and tax credits on fuel that did not qualify for the credits, on fuel that had already been used to generate credits, and on fuel that was exported or otherwise used contrary to EPA and IRS regulations.
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