Renton Man Gets Jail, $4 Million Fine In Renewable Energy Scam

RENTON, WA - A 77-year-old Renton man was sentenced to 105 months - more than 8 years - in federal prison and to pay a $4 million fine for his role in a scam involving a Pasco renewable energy company.

Richard Estes pleaded guilty in December 2015 to a charge of conspiracy to commit money laundering. According to the U.S. Department of Justice, Estes helped a Pasco company called Gen-X Energy Group, Inc., launder money that it earned from renewable energy credit schemes.

According to an IRS investigation, Gen-X Energy Group falsely produced and sought refunds for renewable energy credits. The company allegedly either didn't produce any renewable energy, or re-processed materials multiple times.

Estes allegedly helped launder upward of $39 million in funds, the IRS found.

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