fuel

Biofuel scammer used government credit money to purchase Patton battle tank

Thursday, August 16, 2012 by: J. D. Heyes
Tags: biofuel, scammer, battle tank

eTrust Pro Certified

Delicious Pin It
(NaturalNews) What would you do to obtain a piece of U.S. military history? If you're Jeffrey David Gunselman, you might resort to defrauding the government.

According to court records, Gunselman - CEO of Absolute Fuel, a biodiesel fuel company - has been indicted by a federal grand jury in Texas for lying about producing bio-diesel fuel and selling the resulting renewable fuel credits for $41.7 million, using some of those proceeds to buy a Patton tank.

Gunselman, 30, was indicted on 79 counts of wire fraud, money laundering and making false statements under the Clean Air Act. In addition to Absolute Fuel, four other entities Gunselman controlled were named in the charges. Prosecutors say he conspired to generate and sell phony fuel credits to oil companies and brokers between September 2010 and October 2011.

The credits are known as Renewable Identification Numbers. They are a creation of the Environmental Protection Agency, which developed them for nonrenewable fuel producers and importers to buy in order to meet federal requirements "to include a percentage of renewable fuel in the fossil fuel they sell each year," Courthouse News Service reported.

Prosecutors allege that Gunselman, of Lubbock, Texas, violated federal law when he generated some 48 million RINs without actually producing any biodiesel fuel.

List of goodies purchased with ill-gotten gains

"Gunselman and each corporate defendant falsely stated to employees of EPA contractor Bionetics Corporation, conducting a compliance inspection of Absolute Fuels LLC, as authorized by the EPA, that documents and records requested for review by the EPA were not available because defendants had been 'extremely busy' and 'unable to assemble' the documents, and 'needed more time' to assemble the documents when, as the defendants well knew, said records did not exist," said the indictment.

Court documents say Gunselman falsely said he was in the business of producing bio-diesel fuel though he never owned a facility to produce it.

Under terms of the 2007 law requiring the purchase of RINs, refiners are required to produce a total of one billion gallons annually of bio-diesel, which can be manufactured using soy oil or leftover restaurant grease. "Under the EPA rules, instead of making the fuel themselves, refiners can buy credits from other producers to fulfill their obligations," Bloomberg Businessweek noted.

Prosecutors said Gunselman sold the phony credits via 51 separate transactions to fossil fuel producers Citgo, Tesoro, ConocoPhillips, Marathon, Sunoco and BP.

According to reports, Gunselman used part of the proceeds to make a number of extravagant purchases: $1.6 million for a Gulfstream jet aircraft, $2.78 million on homes in Lubbock and Boerne, more than $700,000 on several sports cars, $100,000 on credits at Las Vegas casinos, $166,000 on San Antonio Spurs NBA season tickets and corporate sponsorship, and last but not least, $355,000 on a demilitarized Patton, which came in two versions - the earlier M48 and later M60.

EPA program ripe for abuse?

In all, according to court papers, Gunselman "obtained money through the wire transfer scheme and used it to purchase real and personal luxury property and commodities in excess of $30 million."

Apparently, Gunselman's alleged fraud is par for the course regarding such instances of fraud. In fact, lobbyists for refiners told a congressional panel in July that the EPA has permitted such widespread fraud in the government-mandated biodiesel credits market.

President of the American Fuel & Petrochemical Manufacturers, Charles Drevna, said in testimony before the House Energy and Commerce Committee's oversight panel that fraud victims were being penalized because the EPA forces refiners to buy replacement credits, according to Bloomberg.

"We are aware of no other government program that penalizes the victims of fraud," Drevna testified.

Authorities are seeking the forfeiture of $42 million along with the real estate, vehicles, airplane and other items.

Sources:

http://www.courthousenews.com/2012/08/10/49189.htm

http://www.businessweek.com

http://lubbockonline.com

Get breaking news alerts on GMOs, fluoride, superfoods, natural cures and more...
Join over four million monthly readers. Email privacy 100% protected. Unsubscribe at any time.


Have comments on this article? Post them here:

comments powered by Disqus

Take Action: Support NaturalNews.com

Email this article to a friend

Permalink to this article:

Reprinting this article: Non-commercial use OK, cite NaturalNews.com with clickable link.

Embed article link: (copy HTML code below):
Most Popular
Today | Week | Month | Year

See all Top Headlines...



GET SHOW DETAILS
+ a FREE GIFT

Now Available at ShopNaturalNews.com

O3 Essentials OraJuvenate™
A powerful, cleansing dental cream for maximum oral/dental health.
New Cancer Solutions
Over 3 hours of content covering today’s best cancer tests, how to kill cancer cells and the best diets and exercise routines.
Freeze-Dried 100% Organic Whole Corn
Our freeze-drying method preserves taste, texture and nutrients better than any other food preservation method ever invented.
Fenix TK35 Flashlight
Tough, waterproof, extremely bright and it’s touted to throw an 800+ lumen beam more than 1,000 feet into the night.
Inca Treasure Smoothie Pack
This pack of our four most popular superfoods from South America is the perfect combo pack for smoothie lovers.
Pink Himalayan Salt
This salt delivers significant levels of magnesium, zinc and selenium, with trace levels of dozens of other elements.
Pinhole Glasses - Aviator Style
Pinhole glasses are becoming famous for helping people improve their vision without the risks of laser surgery.
Oxy-Rich Facial Serum
O3 Essentials Jojoba Oxy-Rich Facial Serum is cellular nourishment for your skin. Helps smooth fine lines while enhancing tissue elasticity.
Freeze-Dried 100% Blackberry Halves
Our freeze-dried blackberry halves are grown in Serbia under strict organic standards.

Also on NaturalNews:

Health Ranger Videos
Activist music
CounterThink Cartoons
Food documentaries
FREE Special Reports
Podcasts
Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

Most Popular Stories

Flu shot kills 19-year-old, but vaccine industry still has total immunity against lawsuits
Here's a nutty fact: Eating more tree nuts lowers the risk of all-cause death by up to 20 percent
Six important facts you're not being told about lost Malaysia Airlines Flight 370
Malaysia Airlines Flight 370 now clearly a government cover-up: All evidence contradicts official story
10 other companies that use the same Subway yoga mat chemical in their buns
BLM fracking racket exposed! Armed siege and cattle theft from Bundy ranch really about fracking leases
High-dose vitamin C injections shown to annihilate cancer
U.S. treating meat with ammonia, bleach and antibiotics to kill the '24-hour sickness'
USDA to allow U.S. to be overrun with contaminated chicken from China
Vaccine fraud exposed: Measles and mumps making a huge comeback because vaccines are designed to fail, say Merck virologists
Battle for humanity nearly lost: global food supply deliberately engineered to end life, not nourish it
Diet soda, aspartame linked to premature deaths in women

25 Amazing Facts About Food

This FREE downloadable report unveils a collection of astonishing and little-known facts about the food we eat very day. Click here to read it now...

 

Resveratrol and its Effects on Human Health and Longevity - Myth or Miracle.

Unlock the secrets of cellular health with the "miracle" nutrient Resveratrol Click here to read it now...

 

Nutrition Can Save America

FREE online report shows how we can save America through a nutrition health care revolution. "Eating healthy is patriotic!" Click here to read it now...

The Healing Power of Sunlight and Vitamin D

In this exclusive interview, Dr. Michael Holick reveals fascinating facts on how vitamin D is created and used in the human body to ward off chronic diseases like cancer, osteoporosis, mental disorders and more. Click here to read it now...

Vaccines: Get the Full Story

The International Medical Council on Vaccination has released, exclusively through NaturalNews.com, a groundbreaking document containing the signatures of physicians, brain surgeons and professors, all of which have signed on to a document stating that vaccines pose a significant risk of harm to the health of children. Click here to read it now...

Health Ranger Storable Organics

GMO-free, chemical-free foods and superfoods for long-term storage and preparedness. See selection at www.StorableOrganics.com



Recommended Resources On:

Natural News trends
Health Ranger news
Natural News GMOs
Mike Adams tracker
Natural News photos
Natural News Global
Natural News in focus
Natural News connect
Natural News shocking stories
Natural News radar
GMOs
Quackwatch
Vaccines
Health freedom
Dr. Paul Offit

This site is part of the Natural News Network © 2014 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

eTrust Pro Certified Android app on Google Play

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of NaturalNews.com, the internet's No. 1 natural health news site. (Source: Alexa.com)

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.