Authorities seize millions in cash, property from Gunselman - KCBD NewsChannel 11 Lubbock

Authorities seize millions in cash, property from Gunselman estate

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M60A1 Patton tank (Source: Wikipedia) M60A1 Patton tank (Source: Wikipedia)
LUBBOCK, TX (KCBD) -

A United States District Court has released a list of assets that Absolute Fuels founder Jeffrey David Gunselman was forced to give up after he pled guilty to a 79-count indictment in December of 2012.

The indictment included 51 counts of wire fraud, 24 counts of money laundering, and four counts of making false statements in violation of the Clean Air Act.

Gunselman's company did try to make bio-diesel fuel, but it never met quality standards and federal records say Gunselman's company was never capable of producing the quantity of fuel that had been promised to other companies nationwide.

Gunselman was sentenced to 15 years in prison and was ordered to give up a sum of money equal to the value of the proceeds of the scheme to defraud, an amount in excess of $41 million.

Authorities seized millions of dollars in cash from various bank accounts and confiscated some exotic items of property, including an anti-aircraft machine gun, a signed LeBron James jersey, nine ABC-M9-7 portable flame throwers, two 1945 M5 60mm mortars, and an M60A1 Patton tank.

Authorities seized acres of real estate and a dozen different vehicles, including a 1984 Gulfstream jet and a 2010 Shelby Cobra.

They also seized numerous items of jewelry, clothing and designer handbags.

Here's a list of vehicles seized by the court;

  • 2011 Ford F250 Super Duty Truck
  • 2006 Ford F250 Super Duty Truck
  • 2010 Mercedes Benz S65 AMG
  • 2010 Lexus RX450H
  • 1984 Gulfstream Aerospace G-1159A, Series G3
  • 2011 Toyota Sequoia
  • 2006 Ford F250 Super Duty Truck
  • 2011 Bentley Continental SuperSport
  • 2010 Shelby Cobra 427 S/C
  • 2011 Cadillac Escalade
  • 1995 Peterbilt Tank Truck
  • 1972 Chevrolet Chevelle
  • 1999 Chevrolet G3500 Van
  • 2008 Kubota L2800 Tractor

Here's some of the military equipment:

  • 1982 M60A1 Patton Military Tank, Demilitarized serial 10905434
  • $7,968.75 in funds received from the sale of Trailer Mounted Quad-50 Anti-Aircraft Machine Gun, Demilitarized
  • $2,656.25 in funds received from the sale of 9 ABC-M9-7 Portable Flame Thrower
  • Two (2) 1945 Firestone M5 60mm Mortars and practice rounds

Here's a list of athletic memorabilia they confiscated:

  • Signed Spurs Robinson Jersey #50
  • Signed Spurs Elliot Jersey #32
  • Signed Spurs Gervin Jersey #44
  • Signed Clippers Griffin Jersey #32
  • Signed Heat James Jersey #6
  • Signed 2009 Dallas Cowboys Football
  • Signed Spurs Popovich and Duncan NBA Banner
  • Signed Spurs Quinn Poster
  • Signed Hill Photo
  • Signed Spurs Parker Jersey # 9

And here's some of the jewelry and personal items:

  • CARO 74 Round 14Kt bridal ring set
  • J. Keith's 14W 4 CTW Diamond Necklace
  • Tag Heuer Carrera watch
  • Rolex Oyster Perpetual Date watch
  • Ladies' Tag Heuer Link watch
  • Bulova Automatic watch
  • Men's Tag Heuer Link watch
  • Tommy Bahama watch
  • Citizen Eco-Drive watch
  • Kenneth Cole New York watch
  • Tiffany Platinum necklace with accent diamonds
  • Swarovski Havana Jet Cufflinks
  • Custom Black Onyx Cufflinks
  • Electric watch case
  • Munchen Swiss clock
  • Christian Louboutin Bianca pumps
  • Coach Scarf - teal, white, and gray/blue
  • Hermes Scarf - L'ivresse De L'infini.
  • Hermes Scarf - dog prints
  • Hermes Scarf - green multi-colored
  • Chanel Black Purse, No. 14650707
  • Coach Black Purse, No. D1049-15760
  • Coach Black Purse, No. G0917-F13548
  • Coach Blue Purse, No. D1069-F15075
  • Coach Ivory Purse, No. L1093-16504
  • Coach Logo Purse, No. F0993-F14281
  • Gerard Darel Purse, Code 3593, blue in color
  • Samsung 55" 3D LED Television
  • iPad with cover
  • Account at Treasure Island Casino, Las Vegas, Nevada in the name of Jeffrey Gunselman and containing approximately $6,800

You can see the complete list of seized assets in court documents here.

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