Judge Signs Forfeiture Order for Gunselman's Property, Millions in Cash
By: Nick Ochsner
Updated: March 23, 2013
A federal judge signed a forfeiture order Friday for millions of dollars
in cash and hundreds of lavish items prosecutors claim were bought with
money obtained illegally.
Agents with the EPA and Secret Service began investigating Gunselman and his company Absolute Fuels, LLC in late 2011 after an employee made claims he was selling fraudulent carbon credits.
A KAMC investigation uncovered Gunselman's scheme to sell phone carbon credits to companies required by law to buy them, netting him nearly $50 million dollars.
Gunselman has since pleaded guilty to dozens of counts of fraud.
Court documents show Gunselman spent millions on a lavish lifestyle.
The forfeiture order signed Friday includes $12 million in cash, nine pieces of property--including at least 300 acres of farmland, nine cars--including a Bently and a Shelby Cobra--and unusual items like a private jet, demilitarized tank and a flamethrower.
Former friends and employees of Gunselman have said he also spent lavishly on trips, often taken employees on last-minute trips to Las Vegas, and renting a suite at San Antonio Spurs games.
Gunselman is scheduled to be sentenced next week.
Agents with the EPA and Secret Service began investigating Gunselman and his company Absolute Fuels, LLC in late 2011 after an employee made claims he was selling fraudulent carbon credits.
A KAMC investigation uncovered Gunselman's scheme to sell phone carbon credits to companies required by law to buy them, netting him nearly $50 million dollars.
Gunselman has since pleaded guilty to dozens of counts of fraud.
Court documents show Gunselman spent millions on a lavish lifestyle.
The forfeiture order signed Friday includes $12 million in cash, nine pieces of property--including at least 300 acres of farmland, nine cars--including a Bently and a Shelby Cobra--and unusual items like a private jet, demilitarized tank and a flamethrower.
Former friends and employees of Gunselman have said he also spent lavishly on trips, often taken employees on last-minute trips to Las Vegas, and renting a suite at San Antonio Spurs games.
Gunselman is scheduled to be sentenced next week.
