"On August 24, 2018, the United States Department of Justice announced a federal indictment had been unsealed. Three men were charged with a $511,000,000 tax credit fraud scheme involving biofuels. Jacob Kingston, Isaiah Kingston, and Lev Aslan Dermen (aka Levon Termendzhyan) were charged in the District of Utah. The indictment was filed August 1, 2018, and ordered sealed.
“[The men]allegedly schemed to file false claims for renewable fuel tax credits, which caused the IRS to issue over $511 million to WRE…From 2010 through 2016, as part of their fraud to obtain the fuel tax credits, the defendants allegedly created false production records and other paperwork routinely created in qualifying renewable fuel transactions along with other false documents. To make it falsely appear that qualifying fuel transactions were occurring, the defendants rotated products through places in the United States and through at least one foreign country.”
Note: the indictment mentions Panama. In addition to the tax credit scam, the
“indictment further charges that the defendants laundered part of the scheme proceeds through a series of financial transactions related to the purchase of a $3 million personal residence for Jacob Kingston. Jacob and Isaiah Kingston are separately alleged to have laundered approximately $1.72 million in scheme proceeds to purchase a 2010 Bugatti Veyron. Jacob Kingston and Lev Aslan
source: PACER.gov
Jacob Kingston is the CEO of Washakie Renewable Energy, and Isaiah Kingston is the CFO. The Kingstons are sons of John Daniel Kingston, the partiarch of the Kingston Group, “a Utah-based polygamous church with fundamentalist Mormon beliefs.” Journalist Jesse Hyde wrote about the group in his brilliant article “Inside ‘The Order,’ One Mormon Cult’s Secret Empire,” published June 15, 2011, in Rolling Stone. The Southern Poverty Law Center declared the Kingston Group a hate group in their August 8, 2017 expose, “Blood Cult.” The Salt Lake Tribune’s Nate Carlisle reported August 4, 2018, “Girls in polygamous Kingston Group continue to marry as young as 15, records show, sometimes leaving Utah to marry cousins.” All three articles are essential reading to get a sense of who the Kingston group really is-and the scope of their crimes and abuses.
According to the federal indictment dated August 1, 2018 (available on PACER), Lev Aslan Dermen aka Levon Termendzhyan, is a California resident who controls
“several fuel-related companies in the United States, including Noil Energy Group, a corporation with offices in California. SBK Holdings, Inc., later SBK Holdings USA, Inc., was a corporation formed in California in December 2013 initially owned by Defendants Jacob Ortell Kingston and Lev Aslan Dermen, a/k/a Levon Termendzhyan.”
On September 29, 2017, Isaac Arnsdorf of ProPublica published a brilliant piece of journalism, “Robert Mueller Subpoenas an Associate of the Man Who Hired Michael Flynn as a Lobbyist,” about Sezgin Baran Korkmaz, who is a “close ally of Ekim Alptekin, the 40-year-old Turkish businessman who hired Flynn to lobby for Turkish interests shortly before the election.” In the article, Arnsdorf writes Termendzhyn’s SBK Holdings USA is “the U.S. sister company” of Sezgin Baran Korkmaz’s Turkish company, SBK Holding. SBK Holding
“has “major investments” in the Russian energy sector, a September 2016 announcementby a Turkish government agency said. The company’s website shows operations in Russia but doesn’t specify what they are.”
On October 5, 2017, The Real Deal reported former SBK Holdings USA’s President and Legal Counsel, Edgar Sargosyan had stated in a legal declaration that Termendzhyan was “under investigation by the Department of Homeland Security for money laundering, tax evasion and stolen petroleum.” I found several other companies connected to Termendzhyan (see charts below), and he and his family members appear in the Offshore Leaks Database.
source: www.corporationwiki.com
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