EVANSVILLE, Ind. (WOWO): The former CEO of an Evansville company has been found guilty of securities fraud after buying biofuels and falsely claiming that his company made them.
Jeffrey Wilson’s 8-day long jury trial ended Thursday. US Attorney for the Southern District of Indiana Josh Minkler says Wilson’s plot centered around biodiesel fuel in Middletown, Indiana.
Wilson and three other men began buying fuels from CIMA Green and Caravan Trading in New Jersey and began filing false reports saying that the fuels were made in Middletown by e-Biofuels, a subsidiary of Wilson’s company, Imperial Petroleum Inc.
Minkler says they added more than $1.60 per gallon to the price of the fuel, but did nothing other than move it around. More than $140 million in revenue and $56 million in criminal profits were involved between 2009 and 2012.
The other people involved in the case, Craig and Chad Ducey of Fishers, Indiana, and Chris Ducey of North Webster, Indiana; Joseph Furando and Katirina Tracy of Park Ridge, New Jersey; and Brian Carmichael of Bend, Oregon have already been convicted.