May 1, 2020 / 11:57 PM / a month ago

IN BRIEF: Imperial Petroleum, other defendants, face $70 mln liability for biofuels fraud

An Indianapolis federal judge has ruled that Imperial Petroleum, one of its subsidiaries, two New Jersey fuel-trading businesses and four staff are liable for nearly $70 million for carrying out a multistate scheme to defraud the U.S. government through an incentive program that offers tax credits for biofuels.

U.S. District Judge Tanya Pratt on Thursday ruled that Imperial, its subsidiary e-Biofuels, Cima Green, Caravan Trading and some of their staff had violated the False Claims Act when they created false certificates of biofuels manufacturing, claimed tax credits with those and sold more than 35 million gallons of falsely labeled fuel over more than two years, defrauding investors and consumers out of more than $100 million.

To read the full story on Westlaw Practitioner Insights, click here:

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