April 29, 2015
Posted January 25, 2016
Chad, Chris and Craig Ducey pleaded guilty for their role in a multi-state scheme to defraud biodiesel buyers by fraudulently selling biodiesel incentives. The Ducey brothers operated E-biofuels LLC and they sold over 35 million gallons of biodiesel to customers for more than $145 million by falsely claiming the fuel was eligible for federal renewable energy incentives, when they knew it was not. In addition, Craig Ducey pleaded guilty to a related $58.9 million securities fraud, which victimized over 625 investors and shareholders of Imperial Petroleum, the publicly-traded parent company of E-biofuels. DOJ
Tagged in: Environmental Fraud, Tax Credit and Deduction Fraud,