Businessman tied to polygamous group to stay in jail pending $500M fraud trial
SALT LAKE CITY — One of two biodiesel executives with ties to a northern Utah polygamous group will stay in jail on charges he had a role in carrying out a $500 million tax credit scheme.
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Prosecutors painted a different picture, saying the $134 million the company holds in Turkish bank accounts is a "parachute" allowing Isaiah Kingston to flee a possible prison sentence on a conviction. Since 2010, he has traveled to Hong Kong, Brussels, Ghana, Calgary, Dublin, Panama, Fiji, France and Cancun, they said. He also met with Turkish President Recep Tayyip Erdogan, demonstrating he is seeking to develop political relationships there, they allege.
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A federal grand jury indictment unsealed on Aug 24
accuses the executives of creating fake records from 2010 to 2016 in order to obtain the federal tax credits, then laundering the money. The leaders of the company that billed itself as a top producer of biodiesel and chemicals have pleaded not guilty to the charges of fraud and money laundering.
https://www.ksl.com/article/46384515/businessman-tied-to-polygamous-group-to-stay-in-jail-pending-500m-fraud-trial