American Greed: Scams, Scoundrels and Scandals Season 9 Episode 3 Ea$y Being Green

In season 9, episode 3 of American Greed: Scams, Scoundrels and Scandals, entitled Ea$y Being Green, viewers are taken on a journey through the world of renewable energy and the fraudsters who take advantage of it. The episode tells the story of Southern California businessman Rodney Hailey, who defrauded the US government out of millions of dollars in tax credits by falsely claiming that he was producing biodiesel fuel made from used cooking oil.

Hailey's scheme was simple – he promised investors a tax credit of $1 for every gallon of biofuel that they helped him produce. But in reality, Hailey was buying and selling huge quantities of biodiesel on paper, without ever actually producing any fuel. He took advantage of a loophole in the federal Renewable Fuel Standard program, which allowed biodiesel producers to generate Renewable Identification Numbers (RINs) that could be sold to oil companies to meet government-mandated quotas for renewable fuels.

Hailey used a network of shell companies to buy and sell large amounts of biodiesel, generating millions of RINs in the process. He would then sell the RINs to oil companies at a tidy profit – but because he never actually produced any biodiesel, the RINs were fraudulent. All told, Hailey defrauded the US government out of $9.1 million in tax credits and caused a loss of $24 million in the biodiesel market.

The episode chronicles Hailey's rise to prominence in the renewable energy industry, as he convinced investors and government officials that he was a visionary entrepreneur with a plan to create jobs and reduce America's dependence on foreign oil. He even attracted the attention of President Obama, who visited one of Hailey's biodiesel production facilities and praised him for his commitment to the environment.

But behind the scenes, Hailey was lying and cheating his way to the top. He used his connections in the biodiesel industry to bully competitors and silence whistleblowers, and he spent millions of dollars on luxury cars, homes, and vacations.

Eventually, Hailey's fraudulent scheme began to unravel. The EPA and the FBI launched an investigation into his activities, and Hailey was arrested and charged with multiple counts of wire fraud, money laundering, and violating the Clean Air Act. He was eventually sentenced to 12 years in federal prison and ordered to pay $9.1 million in restitution.

The episode is a cautionary tale about the dangers of greed and the lengths that some people will go to in order to get rich quick. It also serves as a reminder that renewable energy, while a promising and important technology, is not immune to fraud and abuse. American Greed: Scams, Scoundrels and Scandals season 9, episode 3 is a must-watch for anyone interested in the intersection of finance, environmental policy, and criminal justice.