GRC Fuels owner gets 63 months in prison for renewable fuel fraud

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In Washington, D.C., Gregory Schnabel, the owner of GRC Fuels of Oneonta, New York, who apparently bought and sold renewable fuel and fuel credits was sentenced to serve 63 months in prison to be followed by a three year term of supervised release and $26,244,437.06 in restitution for his role in a conspiracy that generated over $47 million in fraudulent EPA renewable fuels credits and over $12 million in fraudulent tax credits connected to the purported production of renewable fuel. Schnabel bought and sold fuel and RINs from several individuals who have already pleaded guilty for their roles in the scheme.

“Today’s sentencing shows that the Department of Justice will continue to vigorously prosecute those who seek to defraud the federal government and the public through unlawful renewable fuel credit schemes,” said Acting Assistant Attorney General Wood.  “This sentencing serves as a powerful deterrent to those who would consider participating in similar schemes in the future.”