Biofuel Fraudster To Serve 12 Years, Pay $42M

Law360, New York (February 22, 2013, 7:04 PM EST) -- A federal judge on Friday sentenced a Maryland business owner and purported biodiesel producer to more than 12 years in prison and ordered him to pay $42.2 million in restitution for selling millions of fake renewable fuel credits.

U.S. District Judge William Quarles also ordered Rodney Hailey to forfeit $9.1 million in profits he made from the scheme, in which he sold some 35 million fraudulent renewable identification numbers to energy traders and oil companies.

The U.S. Environmental Protection Agency requires domestic fuel makers to produce...
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