Charges finally filed in e-Biofuels fraud case

摘要

After a long investigation, the U.S. federal government charged Indiana-based e-Biofuels and several executives and suppliers with 88 counts of conspiracy, wire fraud, false tax claims, false statements under the Clean Air Act, obstruction of justice, money laundering and securities fraud, for involvement in an alleged illegal biodiesel scheme that bilked victims, including investors, customers and the government, out of more than $100 million. The U.S. Securities and Exchange Commission alleges that when Imperial Petroleum purchased Middletown, Ind.-based e-Biofuels LLC as a subsidiary in 2010, e-Biofuels' owners falsely represented that they were producing biodiesel from soybean oil and chicken fat. E-Biofuels received significant government incentives based on its biodiesel production representations. The government alleges e-Biofuels used middlemen to buy finished biodiesel and portrayed those purchases in fake invoices as feedstock, and later sold the purchased biodiesel for double the price.