Posted on 10/31/2011 7:57:05 PM PDT by Army Air Corps
LUBBOCK, TX (KCBD) - A Lubbock man, Jeff Gunselman, 29, is suspected of committing $40 million worth of wire fraud.
Court records related to Gunselman's company, Absolute Fuels, were unsealed Monday, solving some of the mystery surrounding a mid-October federal raid at several Lubbock and South Plains locations.
On Oct. 19, Secret Service Agent Michael Fiveash requested 36 seizure warrants for properties and bank accounts related to Gunselman or Absolute Fuels.
Each request for a seizure warrant accuses Gunselman of selling "Renewable Identification Numbers" for bio-diesel fuel that never existed.
The Energy Policy Act of 2005 obligated fuel makers to sell a minimum 4 billion gallons of renewable fuels by 2006, and a minimum 7.5 billion gallons by 2012. The renewable fuels, such as bio-diesel, were tracked by RIN or Renewable Identification Numbers. RINs could be traded or sold so that fuel makers could meet their federal obligations.
Court records say in May of 2010, an employee challenged Gunselman about the sale of RINs that did not exist: "Gunselman took the employee out of earshot of the other employees and repeated his instruction to find someone to buy that quantity of RINs, stating 'This is in the pioneering stages and no one will ever know. We'll make the fuel later."
(Excerpt) Read more at kcbd.com ...
that’s right, all the crooks are bush’s neighbors. not a dollar will be traced to Cook County.
Folks around Lubbock first started to notice something wasn’t quite right when the guy built himself a 214-room house on the edge of town, where the drive-in used to be.
that boy “forgot” who his “partners” in DC were supposed to be...they could’ve changed water to BioFuel with the stroke of a pen for him!!!
Y’all are in the wrong business, not to mention the age difference...
Me thinks there was more than 40 million dollars involved there because he must have had some overhead to come out of that
Gunselman obvious votes Republican. If he were a Democrap, he’d have gotten seed money from the Dims and would never have been raided.
The thing about fraud, murder, crime in general is not how to do it, that’s easy, it’s how to get away with it!
True. Rule No. of any criminal enterprise is: Don’t get caught! However, this fella does have some shades of Billie Sol Estes.
I’m wondering how deeply the Texas Enterprise Fund was connected to this thing.
Maybe not at all. Quite possibly up to its crony-capitalist armpits.
If you don’t know about the TEF and who controls its disbursements/investments, you should check it out.
I’m not going to bother with it since Cain made a gesture fifteen years ago that some wench didn’t like.
No doubt.
TX green energy fraud ping.
Years ago I could smell french fries while driving on I-35 near Waco. Think it was the trucks burning Willie Nelson’s bio-fuel.
Most of that stuff is fraud, the fact that they are shocked at this particular case amazes me! What is surprising is that so many suckers fell for it!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.