Man Cops To Selling Fake Biofuel Credits In $42M Fraud

Law360, Los Angeles (December 14, 2012, 9:35 PM EST) -- A man pled guilty in Texas federal court Friday to charges that he defrauded the U.S. Environmental Protection Agency by selling fake credits for a biofuel program and laundered $42 million in government funds to buy cars and a military tank.

Jeffrey David Gunselman, 30, admitted that he made false statements to the EPA from 2010 to 2011, by saying he produced biodiesel fuel even though he didn't own a biodiesel-producing facility, according to the U.S. Attorney's Office.

Gunselman admitted he created fake renewable fuel credits...
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