The fraudulent scheme did not stop there. Additionally, the defendants sought over $6 million in tax credits linked to the bogus production of biodiesel. This organized effort to misuse government incentives highlights the potential financial risks posed to taxpayers.
A Florida man has admitted guilt in a scheme that raked in over $7 million through fraudulent Environmental Protection Agency (EPA) renewable fuels credits, while also attempting to secure more than $6 million in bogus tax credits linked to the alleged production of biodiesel.
Royce Gillham, the general manager of a biofuel company located in Fort Pierce, Florida, was at the center of this deceptive operation. The company claimed to convert various feedstocks into biodiesel and sold renewable fuel and fuel credits. However, court documents reveal that Gillham and his associates significantly inflated their production figures when reporting to the IRS and EPA, aiming to generate additional credits. When auditors requested further details, Gillham and his co-conspirators provided misleading information regarding their fuel production and customer base.
Gillham has pleaded guilty to conspiracy to commit wire fraud and to filing false claims. While a sentencing date is yet to be set, he could face up to five years in prison and a $250,000 fine for the conspiracy charge.
A federal district court judge will review the plea agreement, taking into account the U.S. Sentencing Guidelines and other relevant factors before making a decision.
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