Gunselman booked into Lubbock Co Jail, $40 million fraud case - KCBD NewsChannel 11 Lubbock

Gunselman booked into Lubbock Co Jail, $40 million fraud case

Jeffrey Gunselman, image from Lubbock County S.O. Jeffrey Gunselman, image from Lubbock County S.O.
Jeffrey Gunselman, image from Facebook Jeffrey Gunselman, image from Facebook
LUBBOCK, TX (KCBD) -

The Lubbock man accused of $40 million of wire fraud is back in Lubbock as of Wednesday afternoon. Jeffrey Gunselman, 30, was booked into the Lubbock County Jail at 4:45 PM, according to official records. Gunselman was arrested in July and held in a facility near San Antonio commonly referred to as Wackenhut.

Gunselman and his business Absolute Fuels are accused of creating bogus renewable energy credits and selling the over the Internet. Federal court records say the company attempted to make bio-diesel fuel but it never met quality standards. Gunselman sold the credits anyway, according to the court records.

At the same time Gunselman was living large, with 11 vehicles including a 2011 Bentley, and Shelby Cobra 427.

He had a home in Boerne, near San Antonio, worth $2.65 million. His possessions included an M60 Patton Tank, an anti-aircraft gun, a Vietnam-era flamethrower and WWII-era mortars. Federal agents found more than $23,000 in cash in one of Gunselman's houses.

The company had purchased a private jet worth $2.5 million. Court records also say Gunselman traveled to Switzerland to establish a Swiss financial account.

Also on Wednesday, the U.S. Department of Justice added a Dallas-based Assistant U.S. Attorney, John J. de la Garza III, to the case. Court records said, "de la Garza is not replacing the current AUSA prosecuting the case, but simply being added as forfeiture counsel."

Federal officials have indicated they will try to recover at least some of the $40 million on behalf of the victims by seizing Gunselman's property.

Gunselman has not yet been arraigned so he has not yet pleaded guilty or not guilty. For the moment he cannot post bond to go free. Prosecutors have less than two weeks to file documents before U.S. District Court Judge Sam Cummings as to why Gunselman should remain behind bars. They have previously stated that Gunselman is a flight risk and did not remain in Lubbock County as part of a deal between prosecutors and Gunselman's attorney.

Copyright 2012 KCBD. All rights reserved.

  • Local News on KCBD.comNewsMore>>

  • Texas mourners endure grief that 'none of us can comprehend'

    Texas mourners endure grief that 'none of us can comprehend'

    Saturday, May 19 2018 11:51 PM EDT2018-05-20 03:51:30 GMT
    Sunday, May 20 2018 9:37 PM EDT2018-05-21 01:37:48 GMT
    (Jennifer Reynolds/The Galveston County Daily News via AP). April Salinas, second from right, her daughters Meah, 13, and Macee, 6, and Jeramiah Kelley read notes left at memorial behind Texas First Bank, Saturday, May 19, 2018 in Santa Fe, Texas. A gu...(Jennifer Reynolds/The Galveston County Daily News via AP). April Salinas, second from right, her daughters Meah, 13, and Macee, 6, and Jeramiah Kelley read notes left at memorial behind Texas First Bank, Saturday, May 19, 2018 in Santa Fe, Texas. A gu...

    The mother of one slain student said her daughter may have been targeted because she rejected advances from the suspect, who was an ex-boyfriend of her daughter's best friend.

    The mother of one slain student said her daughter may have been targeted because she rejected advances from the suspect, who was an ex-boyfriend of her daughter's best friend.

  • Cyclists tried to scare cougar but it attacked, killing 1

    Cyclists tried to scare cougar but it attacked, killing 1

    Sunday, May 20 2018 1:31 AM EDT2018-05-20 05:31:13 GMT
    Sunday, May 20 2018 9:37 PM EDT2018-05-21 01:37:10 GMT
    (Alan Berner /The Seattle Times via AP). Washington State Fish and Wildlife Police confer with an individual from the King County Medical Examiner's and a King County Sheriff's deputy on a remote gravel road above Snoqualmie, WA., following a fatal cou...(Alan Berner /The Seattle Times via AP). Washington State Fish and Wildlife Police confer with an individual from the King County Medical Examiner's and a King County Sheriff's deputy on a remote gravel road above Snoqualmie, WA., following a fatal cou...

    Authorities say the cougar believed responsible for the attack has been euthanized.

    Authorities say the cougar believed responsible for the attack has been euthanized.

  • Venezuela keeps voting stations open amid light turnout

    Venezuela keeps voting stations open amid light turnout

    Sunday, May 20 2018 12:22 AM EDT2018-05-20 04:22:02 GMT
    Sunday, May 20 2018 9:36 PM EDT2018-05-21 01:36:15 GMT
    (AP Photo/Ariana Cubillos). Venezuela's President Nicolas Maduro makes the victory sign after a meeting with former Spanish Prime Minister Jose Luis Rodriguez Zapatero at the presidential palace in Caracas, Venezuela, Friday, May 18, 2018. Maduro is se...(AP Photo/Ariana Cubillos). Venezuela's President Nicolas Maduro makes the victory sign after a meeting with former Spanish Prime Minister Jose Luis Rodriguez Zapatero at the presidential palace in Caracas, Venezuela, Friday, May 18, 2018. Maduro is se...
    Venezuelans vote Sunday in a presidential election with Nicolas Maduro expected to win a second six-year term, despite a deepening crisis that's made food scarce and inflation soar as oil production in the once...
    Venezuelans vote Sunday in a presidential election with Nicolas Maduro expected to win a second six-year term, despite a deepening crisis that's made food scarce and inflation soar as oil production in the once wealthy nation plummets.
Powered by Frankly