The 7th Circuit today affirmed the defendant’s convictions for fraud in connection with the purchase or sale of
securities, fraud in the offer or sale of securities, and multiple counts of making material false statements in required filings or to accountants/investigators. This all centered around a scheme to re-sell lower grade bio-fuel as if it were 100% biofuel free of petroleum.
The sole issue raised on appeal was that there was insufficient evidence to show the defendant’s knowledge or mens rea. The 7th Circuit makes short work of this, affirming the conviction based on the evidence the Government presented.
The case is United States v. Wilson.