BALTIMORE – Jurors have found a Maryland man accused of selling fraudulent renewable energy credits guilty on all counts.
Jurors deliberated for little more than an hour before finding Rodney Hailey guilty of counts including wire fraud, money laundering. Hailey was accused of selling $9.1 million in fraudulent credits for biodiesel that his company did not produce.
Prosecutors told jurors earlier Monday in closing arguments that Hailey spent money obtained from the fraud on luxury cars, jewelry and property. The defense says the Perry Hall man didn't defraud anyone because traders knew the credits were fake.
The judge agreed with prosecutors who argued that Hailey should be held pending sentencing.
The case has led to calls for a review of the Environmental Protection Agency program designed to spur production of clean energy.