On Monday, the court found Lev Aslan Dermen, the owner of California-based fuel company NOIL Energy Group also known as Levon Termendzhyan guilty on ten counts including money laundering and mail fraud. Along with Levon, the CEO Washakie Renewable Energy Jacob Kingston and CFO of the same company Isaiah Kingston have been alleged of filing false claims for renewable fuel tax credits. The report showed that they were involved in a money laundering and mail fraud scheme which they used to obtain more than $511 million in renewable fuel tax credits from the Internal Revenue Service (IRS). Mark Geragos, Levon’s attorney expressed his disappointment but urged the judge to ensure that he should not be kept in close quarters considering the spread of the coronavirus.
March 19, 2020 by Media Team in ML/TF updates