Bio-diesel Fuel Company Owner Sentenced to 188 Months in Federal Prison for Crimes Connected to Illegal Fuels Scheme (Texas)
photograph of the absolute fuels building
Gunselman was the owner of Absolute Fuels, LLC, dba Absolute Fuels, LLC (Absolute Fuels), which he formed in April 2009. He was also named as Governing Person and/or as Registered Agent for other business entities associated with Absolute Fuels, LLC.
Jeffrey David Gunselman was sentenced to 188 months in federal prison, fined $175,000 and ordered to pay more than $54.9 million in restitution, following his guilty plea to an indictment charging 51 counts of wire fraud, 24 counts of money laundering and four counts of making false statements in violation of the Clean Air Act.
Gunselman was the owner of Absolute Fuels, LLCF. from September 2010 to October 2011, he devised a scheme to defraud the EPA by falsely representing that he was in the business of producing bio-diesel fuel, yet Gunselman did not have a bio-diesel fuel-producing facility. Instead, his business operation consisted of falsely generating renewable fuel credits and selling them to oil companies and brokers. During the same time period, Gunselman engaged in monetary transactions in criminally derived property by purchasing real and personal property valued at approximately $12 million with the funds derived from the wire fraud. For more information read the complete case summary.