Rodney Hailey, who was in the news last summer for selling more than $9 million in Renewable Identification Numbers (RIN) credits for biofuel that, well, didn't exist, has been sentenced to nearly 12 years and six months in prison, followed by three years of supervised release.
Biodiesel appears to be a tough business to enter, whether you're talking lawsuits over federal mandates or crackdowns on fraud. CBC News in Canada has investigated a cross-border mystery over biodiesel that thickens the plot.
Alternative energy and cleantech have been a platform for political jabs and Congressional hearings in Washington over the past year – the Solyndra scandal, Chevrolet Volt post-crash-test battery fires, and Fisker Automotive's Department of Energy grant loan quickly come to mind. The latest one deals with companies committing fraud tied into the federal renewable fuel standard, and it
The LA Weekly reports there may have been more to the viral news story of a motorcycle police officer who ended up with his legs in the air in the back seat of a BMW convertible after a traffic collision. Following an 18-month investigation, prosecutors have officially dropped the three misdemeanor assault charges against driver Brian Hitchcock after the man's lawyers discovered Hermosa, California officer Anthony Parente had a history of quest
It appears the gentleman who piloted his Bugatti Veyron into a Texas lagoon has run into a spot of legal trouble. The insurance company that paid out $2 million for the trashed exotic is calling fraud on the whole scenario, and a federal judge has decided that the claim should go before a jury. Andy House of Lufkin, Texas, original
When Cash For Clunkers was announced in 2009, the federal government promised to keep close tabs on the vouchers that were paid out in exchange for clunkers. Problem is, the program led to 4.3 million taxpayers receiving $7.2 billion if vehicle deductions in the span of only a few months. So it should come as little surprise that some less-than-reputable deals passed through the C4C juggernaut, including vouchers for criminals in jail,
The Internet has indeed revolutionized the way people do business, but this doesn't come without some faults. Hackers pose a threat to not only individual people's computers, but to the databases of large corporations, and a recent attack on American Honda now means that 2.2 million owners have had their personal information stolen.
67-year-old H. Max Speight, a disbarred Tennessee attorney, has been sentenced by a federal court and will serve a 26-month sentence for defrauding a federal biofuels subsidy program. Though his sentence may be considered harsh, Speight's partner, William Tacker II, was convicted and sentenced to five years behind bars, plus a mandatory repayment of funds, which he collected by filing fraudulent claims with the federal government.
Henri Zogaib (pictured, right) raced for and helped support the Samax Motorsport team that raced in the Rolex Series. The support came in the form of cash and good living that supposedly came from investing in iron ore, but apparently the monies actually came from a Ponzi scheme. And as the Orlando Sentinel tells it, the fraud has unravelled, leaving fellow Series drivers like Ryan Dalziel (pictured left), J. C. France
The saga that is the collapse of MG Rover and the subsequent four-year government probe into what went wrong has just taken another sordid and oddly-timed twist. Lord Mandelson, Secretary of State for the British Labour Party, has told the Financial Times that he was under "obligation" to pass the case to the Serious Fraud Office (is there a "Not So Serious Fraud Office?") foll
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Kim Woo-choong, the founder and former head of the Daewoo Group, was sentenced to 10 years in a South Korean prison for embezzlement, accounting fraud, and various other white-collar crimes of the type typically committed when a large company goes down the tubes. In all, Woo-choong was said to have been involved in a variety fraudulent transactions involving over $50B in company funds, as well as having embezzled $100M.
