Tampa Man Sentenced for $3 Million Biofuels Fraud

- by Susan Salisbury, December 9, 2014, Palm Beach Post      

[[{"type":"media","view_mode":"media_large","fid":"344","attributes":{"alt":"","class":"media-image","style":"width: 244px; height: 233px; margin: 3px 10px; float: left;"}}]]A Tampa man was sentenced today on charges he scammed investors out of more than $3 million after promising returns on bio-energy crops such as camelina that were not even planted

 

William A. Vasden Jr. who once headed the Florida Feedstock Growers Association, was sentenced to four years in federal prison in a Fort Myers courtrom.

Vasden was also charged with fraudulently applying for federal grant funds for alternative energy projects that never materialized.

The scam was uncovered by the Florida Department of Agriculture and Consumer Services during a top-to-bottom audit of outstanding grants and projects conducted immediately after the department assumed responsibility of the state’s Office of Energy.

“Our audit exposed several cases of fraud, saving more than $2.4 million in taxpayer dollars,” said Commissioner of Agriculture Adam Putnam. “Misuse of public funds is unacceptable, and those who have committed fraud will be held accountable.”