CEO of biofuel group pleas guilty of RIN fraud in exchange for deal

In Washington state, the CEO of Pasco-based Gen-X Energy Group has accepted a plea deal in exchange for admitting to scamming $9.5 million out of the IRS by generating millions of false RINs. The defendant, who is not in custody and is on supervised release until his sentencing hearing in May, is not expected to get jail time. He must provide restitution to the IRS and other victims. In exchange for the deal, he will have to testify against others who may be brought to court, provide documents and speak to investigators.

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