Court rules Gunselman to stay in jail

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Updated: 11/30/2012 8:53 pm
The Fifth Circuit Court of Appeals have agreed a local businessman must stay in jail without bond until is trial in a multi-million dollar fraud investigation.

The former CEO of Absolute Fuels, Jeffrey David Gunselman, faces 79 counts including wire fraud, money laundering and making false statements. Prosecutors contended Gunselman made tens of millions of dollars off a scam involving renewable fuel credits.

Gunselman was appealing a Lubbock federal judge's decision to deny bail after prosecutors argued Gunselman was a flight risk. Gunselman's trial is set to begin January 14th.
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