Washakie executives accused of millions of dollars tax credit fraud

Washakie Renewable Energy CEO Jacob Kingston and CFO Isaiah Kingston have been accused of fraudulently netting over $500 million in renewable fuel tax credits from the federal government. The Portage production facility in Box Elder County produces renewable biodiesel. A California businessman, Lev Aslan Dermen, has also been charged in the case.

According to the Associated Press, prosecutors allege that from 2010 through 2016, the Kingstons allegedly created false production records and other paperwork to obtain tax credits. They’re also accused of laundering the proceeds.

The U.S. Attorney’s Office in Utah announced the indictment Friday, saying the related court documents had been unsealed. Washakie Renewable Energy, with headquarters in Salt Lake City, claimed to be the largest producer of biodiesel and chemicals in the region.

The AP says messages seeking comment were left at the company’s headquarters.

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