Indianapolis Business Journal;
Charges included allegations of conspiracy, wire fraud, false tax claims, false statements under the Clean Air Act, obstruction of justice, money laundering and securities fraud.
Prosecutors allege that E-biofuels actually wasn't producing biofuel. Instead, it was purchasing fuel and selling it to customers as its own product for a profit.
E-biofuels also fraudulently collected on about $35 million in federal tax breaks reserved for biofuel producers, according to charging documents.
Brothers Chad and Craig Ducey launched E-biofuels in 2007. The plant was supposed to produce 10 million gallons of biodiesel per year. Lawsuits against the company indicate that it did not reach that mark.
It's a cautionary tale for the alternative energy folks - limit your activities to the government approved fraud schemes.
The payouts to the politicians weren't big enough.
When asked what the world will look like in 2050...
It'll be cold, lonely, dark and lacking much space. Esp. inside the coffin I'll likely be in.
2050 ?? .... vehicle gas tanks full of "biofuel" and drivers with empty stomachs.
That's almost as good a scam as those Spanish guys that were selling solar power to the grid at midnight.. They later found out they were using diesel generators and were making a killing..
Farmers are so lucky - they get to satisfy all their energy needs with the biofuels they grow, and then sell the excess!
if Obumbles had a company!!!!
Sure glad that Tiger Tim Hudak's bio-diesel program isn't going to be a public rip-off....
Producing Biofuel? Try turning water into wine. That might be easier.