More subpoenas issued in eBiofuels biodiesel shakedown
May 31, 2012
BY Ron Kotrba
In the wake of the raid on the New Jersey offices of biodiesel company Cima Green Energy Services, in connection with bankrupt eBiofuels LLC and publicly traded parent company Imperial Petroleum Inc., Biodiesel Magazine has learned that several other firms—fuel traders, marketers, hedge fund managers and others, in addition to eBiofuels and Imperial Petroleum—were subpoenaed to hand over to federal agents all correspondence and documentation pertaining to eBiofuels.
“They want emails, texts, anything to do with eBio,” one source said.
Another source told Biodiesel Magazine, “We are here to help. This is an information request, and we’re giving it. Our job is to keep this industry healthy.”
Advertisement
Advertisement
Some of the companies served with subpoenas are respected members of the biodiesel community, on the right side of this investigation, and they are concerned that as a result of this scandal, their reputations and businesses may be tarnished.
“It’s a perception issue,” one source said.
Advertisement
Advertisement
When asked what timeline the subpoenaed parties had to provide this information to the federal government, a source said, “Urgently.”
With as wide sweeping as this investigation is, and with the involvement of U.S. EPA and the U.S. Securities and Exchange Commission, it is thought that this will turn out to be the fourth identified case of D4 RIN fraud (biomass-based diesel renewable identification numbers) to date, following last year’s bust of Maryland-based Clean Green Fuel LLC, and two Texas-based companies, Absolute Fuels LLC and Green Diesel LLC.
Jeffrey T. Wilson, spokesperson for Imperial Petroleum, had no comment on the matter.
Upcoming Events
