Utah biodiesel executives accused of tax credit fraud
SALT LAKE CITY (AP) — Two executives of a Utah-based biodiesel company and a California businessman are facing charges related to a scheme that netted more than $500 million in renewable fuel tax credits from the federal government.
The U.S. Attorney’s Office in Utah announced the indictment Friday, saying the related court documents had been unsealed.
Washakie Renewable Energy CEO Jacob Kingston and CFO Isaiah Kingston are charged in the case. Their company billed itself as the largest producer of biodiesel and chemicals in the region.
Messages seeking comment were left at the company’s headquarters.
California businessman Lev Aslan Dermen also is charged. It wasn’t immediately clear if he had an attorney.
Prosecutors say that from 2010 through 2016, the defendants allegedly created false production records and other paperwork to obtain tax credits. They’re also accused of laundering the proceeds.