The prosecution rested its fraud case against Rodney R. Hailey in U.S. District Court in Baltimore on Friday afternoon, and closing arguments could take place as soon as Monday.
Hailey, who is accused of selling fraudulent renewable energy credits to energy brokers and refiners, elected not to testify.
The defense has not yet rested its case, but Judge William D. Quarles Jr. assured the jurors that they would have the case by Thursday at the latest.
A large part of the prosecution’s case was spent detailing Hailey’s purchase of expensive cars and properties. Assistant U.S. Attorney Tonya N. Kelly said Hailey’s life was comparable to that of a “fairytale.”
According to court testimony, Hailey’s lavish lifestyle is what sparked suspicions concerning his finances in early 2011.
Hailey was charged in October with exploiting the federal government’s Renewable Fuel Standard program. According to Kelly, Hailey made $9.1 million by selling false renewable identification numbers or RINs — 38-digit numbers that correspond with a certain amount of biodiesel fuel.
Hailey registered his company, Clean Green Fuel, with the EPA on March 26, 2009, and began selling the credits.
His defense lawyer, Assistant Public Defender Joseph Lee Evans, said in opening statements last Monday afternoon that the fraud charges were baseless because the buyers of the credits, sophisticated people in the energy business, were not deceived.