The U.S. attorney's office has charged the owner of a White Marsh fuel company with money laundering and wire fraud, accusing him of attempting to sell more than $9 million in renewable fuel credits that he did not produce.
Rodney R. Hailey, 33, of Perry Hall, owner of Clean Green Fuel LLC, has also been charged with violating the Clean Air Act, and he is expected to be arraigned on Oct. 13. He faces a maximum sentence of 20 years in prison for wire fraud, 10 years for money laundering and two years for violating the Clean Air Act.
The U.S. attorney's office said that oil companies that market petroleum are required to produce renewable fuel or purchase fuel credits, called renewable identification numbers [RINs], from producers of renewable fuels.
"The information alleges that [Hailey] specialized in producing 38-digit renewable identification numbers, each of which supposedly corresponded to the production of two-thirds of a gallon of biodiesel fuel; in fact, he allegedly sold more than 32 million RINs for over $9 million," Maryland's U.S. attorney, Rod J. Rosenstein, said in a statement.
"Oil companies bought RINs in order to comply with EPA regulations requiring them to support the production of renewable fuel," said Rosenstein. "However, the information alleges that in reality Mr. Hailey did not produce any renewable fuel; he just made up RINs."Copyright © 2015, The Baltimore Sun