ABBEVILLE, Ala. (AP) - Henry County Sheriff's investigators have
charged the former CEO of an Abbeville bio-fuel business with theft of property for allegedly stealing from his own company.

Lt. Clyde Hornsby said 46-year-old Arnesto "Steve" Sobrado, of
Cumming, Ga., formerly served as CEO of American Bio-Fuels, which he said went out of business in June.

Sobrado turned himself in Wednesday evening and was released
after posting a $5,000 bond.

Hornsby said the charge stemmed from a report made an American Bio-Fuels owner in July that said Sobrado was selling renewable identification numbers to another company, Texas-based Paquin Energy & Fuel in Keller, Texas.

Sobrado was charged with allegedly selling $54,915 worth of RINs
to the company during June and July.

It was not clear if Sobrado had a lawyer Friday.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:
WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 57341662 -
Gray Television, Inc.