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Australian guilty in $41M biodiesel scam in Las Vegas

Australian guilty in $41M biodiesel scam in Las Vegas

CREATED Jul 23, 2014

LAS VEGAS (AP) -- A 64-year-old Australian man has pleaded guilty to charges in federal court in Nevada for his role in a scheme to bilk a U.S. biodiesel fuel program out of more than $41 million.

Nathan Stoliar pleaded guilty in Las Vegas Tuesday to two counts of wire fraud and one count each of conspiracy, conspiracy to engage in money laundering and making false statements under the Clean Air Act.

Under a plea agreement, Stoliar must forfeit $4 million and pay $1 million restitution.  He faces up to 69 years in prison and $2 million in fines at his Oct. 30 sentencing.

Federal prosecutors say Stoliar and a Las Vegas man, James Jariv, used firms in Canada and Las Vegas to fraudulently generate millions of dollars' worth of federally-funded credits known as renewable identification numbers.