INDIANAPOLIS (AP) — Two Indiana men have been sentenced to prison for their roles in what federal authorities say was a multi-million dollar fraud scheme involving biofuels.
U.S. Attorney Josh Minkler says Jeffrey Wilson, the president of Imperial Petroleum based in Evansville, was sentenced to 10 years in prison on Friday while Craig Ducey of Fishers was sentenced to six years and two months in prison. On Thursday, Ducey's brother, Chad Ducey of Fishers, was sentenced to seven years.
Authorities say the men took part in fraud involving federal incentives to produce renewable fuels, specifically biodiesel. They say the securities fraud began when Wilson learned that E-biofuels LLC, a business Wilson arranged for Imperial Petroleum to buy, was faking paperwork to claim incentives for biodiesel it had not manufactured.