The trial date has been set back for a Lubbock businessman accused of $40 million in wire fraud. Trial had been set for October 1 for Jeffrey Gunselman, 30, CEO of Lubbock-based Absolute Fuels. But on Friday, U.S. District Judge Sam Cummings reset the trial date for December 3 at the request of Gunselman's attorney.
The defense argued that the wire fraud and money laundering charges are complicated, and the defense needed more time to prepare. Prosecutors did not oppose the delay and Gunselman signed a waiver of his right to a speedy trial.
Both a criminal complaint and an indictment accuse Gunselman of selling renewable energy credits in 2010 and 2011 for bio-diesel fuel that did not exist. His company did attempt to make bio-diesel fuel but it did not pass quality standards. Court records say Gunselman sold the credits anyway and lived lavishly on the millions of dollars he took from other companies.
Gunselman remains locked up in the Lubbock County Jail.
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