Re: Indictment in ethanol plant scam
Posted by Paul Chesser at 12:50 PM
So, Boyce Allen Hudson had his hearing today in federal court where he pleaded guilty to corruption charges. And who, it turns out, did Hudson end up taking his $15,000 payment (that was supposed to be just part of a bigger payoff) from?
The answer is: A federal agent posing as an official representing Agri-Ethanol Products, the company that sought Hudson's help in getting expedited environmental permits for their ethanol plant project.
I really know nothing about how the feds operate, but I can't imagine the FBI would go to this level of effort to only consume small potatoes like Hudson. Are there bigger things to come?
Update, 1:20 p.m.:
The News & Observer's account of Hudson's court plea is up:
Investors and officials with Agri-Ethanol, a Raleigh-based company
needed lots of cash to build a $220 million plant. They began bragging
to investors that they had bribed a state environmental official who
had helped them get a permit in 29 days.
One investor called federal investigators who eventually had an undercover FBI agent pay the official, Boyce Allen Hudson....
The dealings became a federal case when the company used its ties with Hudson to try to recruit investors.
(Judge Terrence) Boyle said he found it interesting that the company would brag about a bribe in a sales pitch.
"Is that the sort of thing you want to put in a prospectus?" Boyle asked.
One investor wasn't impressed with the pitch and he called authorities, Bruce said.
Sounds like Rick Watson-ish behavior to me.
» Return to posts for May 27, 2008
» Return to the Locker Room