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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums44 Oil Executives and Truck Drivers Were Just Arrested for a Multimillion-Dollar Scam
Dozens of New York City-area energy industry executives and truck drivers were arrested Tuesday as part of a law enforcement probe into a suspected scam on customers.
DNAinfo reports the bust includes over 40 "owners, executives and truck drivers from some of the city's largest fuel oil companies" who police accuse of rigging oil trucks to shortchange customers on heating oil. The alleged scammers, who DNAinfo reported include eight owners of fuel companies and three transportation depots, are accused of scamming developers and city agencies, including police and fire departments and those serving "the homeless and city schoolchildren."
Alleged victims also included the owners of smaller buildings who purchased oil from the companies implicated.
Prosecutors said the trucks were equipped with "diverter valves" that gave fake readouts of how much oil each customer was being delivered, DNAinfo reported. They also allegedly used other tricks to fool measuring devices designed to prevent fraud.
According to the New York Times, nearly a dozen unsealed indictments detail the allegations against the defendants, accusing them of stealing $34 million in oil over the course of a single year, or $18 million annually over the course of the yearslong scheme. The cost to the city was $4 million each year.
Crain's New York Business reported the indictments are the latest in decades of fraud allegations within the city's lucrative heating-oil industry, though previous allegations have mainly involved deliberate dilution of the oil with used oil, diesel and motor oil, or even "sludge residue from boilers."
http://news.yahoo.com/44-oil-executives-truck-drivers-204920300.html
riversedge
(70,417 posts)marmar
(77,113 posts)...... we wouldn't have much of an economy?
Spitfire of ATJ
(32,723 posts)marmar
(77,113 posts)B Calm
(28,762 posts)the company?
bahrbearian
(13,466 posts)B Calm
(28,762 posts)to complete the scam that the company executives started?
Lochloosa
(16,081 posts)1StrongBlackMan
(31,849 posts)the pay out was continued employment.
B Calm
(28,762 posts)JackInGreen
(2,975 posts)*DING* Number one response "do it or you're fired and won't work again"
Lee-Lee
(6,324 posts)They are just as guilty.
I am willing to bet they only used "trusted" drivers who then got a kickback.
I can't see how the drivers wouldn't be aware. If you have a 2000 gallon tank and you make a deliveries on one tank to totaling 2400 gallons on the meter, or your meter reads 1000 gallons dispensed and you still have 1200 in the tank it's obvious something is wrong. It would be almost impossible to hide meters that were off to any degree from a driver.
Renew Deal
(81,895 posts)Renew Deal
(81,895 posts)In some cases whole families were in on it.
http://manhattanda.org/press-release/da-vance-nine-companies-44-defendants-indicted-connection-multimillion-dollar-heating-
bananas
(27,509 posts)were you referring to this one?
DA VANCE: NINE COMPANIES, 44 DEFENDANTS INDICTED IN CONNECTION WITH MULTIMILLION-DOLLAR HEATING OIL INDUSTRY FRAUD
Companies and Truck Drivers Allegedly Billed Customers for More Oil Than Delivered and Resold the Surplus on the Black Market
Defrauded Customers Include Residential, Commercial, and Municipal Buildings Citywide: Schools, Hospitals, Police Precincts, Churches, City of New York
WATCH THE PRESS CONFERENCE
<snip>
Renew Deal
(81,895 posts)Thanks. I updated the link
TexasBushwhacker
(20,232 posts)I'll be happy. Until the higher ups start spending time in 8 x 10 cells, this shit will continue. Wall Street next.
FLPanhandle
(7,107 posts)The mob won't be happy.
eppur_se_muova
(36,317 posts)Koch has been fined for misreporting the amount of oil taken from its wells.
Thav
(946 posts)That's being competitive! Why do they hate small business?
(Do I need a sarcasm tag?)
jtuck004
(15,882 posts)to pay these thieving murderers?
ananda
(28,891 posts)What is it about corporate honchos and sociopathy?
I really hope Sanders wins and we can work towards
more equal wealth distribution.
lonestarnot
(77,097 posts)yallerdawg
(16,104 posts)"Fuhgeddaboudit! A thumb on the scale is just business! Wait until you see what oversight, regulation and criminal prosecution is gonna cost ya!"
Shrike47
(6,913 posts)valerief
(53,235 posts)joeybee12
(56,177 posts)Oh wait...never mind.
vkkv
(3,384 posts)vkkv
(3,384 posts)TAKE THEM OUT AN SHOOT'EM.
Ichingcarpenter
(36,988 posts)what was going on under the world stage as billions suffer and the media is silent on that story.
$$$$$$Millions?
Try $$$$$ trillions on the world stage.
Criminal Forced Austerity.
For this story.
Every bank involved with this enterprise should be audit too. You know they helped enable this.
d_legendary1
(2,586 posts)Fines are for those who can afford the luxury of not going to jail.