Fuel Co. Owner Gets 10 Years For Biodiesel Scheme

Law360, New York (March 7, 2016, 6:13 PM EST) -- A Texas federal judge on Monday sentenced the owner of several fuel and biodiesel companies to just more than 10 years in prison and ordered him to pay more than $87 million in restitution and forfeit $51 million for running a scheme to sell fraudulent biofuel tax credits.

Philip Joseph Rivkin was sentenced to 121 months in prison and three years of supervised release by U.S. District Judge Lee H. Rosenthal after he pled guilty to mail fraud and making a false statement under the Clean Air Act. Prosecutors said that Rivkin ran a scheme to generate fake biofuel incentives to...

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