New Jersey man sentenced in Indiana for biodiesel fraud
INDIANAPOLIS (AP) – A New Jersey man has been sentenced in Indiana to 20 years prison for his role in a biofuels scam bilking taxpayers and fuel buyers out of tens of millions of dollars.
Joseph Furando of Montvale, New Jersey, pleaded guilty in April to charges including conspiracy. Guilty pleas were also entered on behalf of companies he co-owned.
Furando was also sentenced Thursday to three years supervised release and ordered to pay over $56 million in restitution. Messages left Friday for his attorney weren’t immediately returned.
Three other defendants are awaiting sentencing.
They are accused of charging fuel prices above value by claiming it as pure biofuel made from renewables. But the fuel actually contained some petroleum diesel and the government paid renewable energy tax credits that shouldn’t have been paid.
