Oregon fraudster sentenced to more than 7 years in prison for biodiesel scams

In Oregon, Jack Holden has been sentenced to 7 years and three months in prison along with $1.4 million in restitution for defrauding 12 people who invested in a supposed biodiesel project in Ghana. The federal charges included mail and wire fraud, money laundering and conspiracy to commit both offenses. The investors were convinced to invest in non-existent biodiesel projects in Argentina and Chile after the Ghanaian project failed. His co-defendant was sentenced in April 2015 for five years in prison. Holden and his co-defendant are 76 and 81 years old respectively.