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Brothers Plead Guilty in $145M Biofuels Fraud Scheme
April 29, 2015
1 Min Read
Three Indiana brothers pleaded guilty in a multi-state scheme that defrauded biodiesel buyers and taxpayers of millions of dollars.
Chad Ducey, 39, Fishers; Chris Ducey, 48, North Webster; and Craig Ducey, 44, Fishers operated E-biofuels LLC from a facility in Middletown, Ind. In addition, Craig Ducey pleaded guilty to a $58.9 million securities fraud scam related to the case. Federal prosecutors say they sold more than 35 million gallons of biodiesel to customers for more than $145 million by falsely claiming the fuel was eligible for federal renewable incentives when they were fully aware that wasn’t the case.
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