In what can only be described as a convoluted tale of international intrigue, a biofuel scam of monumental proportions has surfaced, involving an improbable assembly of individuals ranging from members of a polygamist Utah blood cult to an L.A. gas station mogul and a Turkish billionaire.
This sprawling saga is poised to return to court once more, with recent filings pushing the trial date to November.
The Biofuel Scam
Prosecutors contend that the perpetrators of this years-long international green energy swindle orchestrated “one of the most audacious tax frauds in history,” surpassing $1 billion in false claims. Instead of being channeled into legitimate biofuel production, these funds allegedly ended up lining the pockets of the perpetrators. The biofuel scam, shielded by a network of corrupt law enforcement officials and federal agents, involved a sordid cocktail of bribes, extravagant dinners, and cocaine-fueled revelries in Las Vegas.
Key Figures
At the heart of this elaborate scheme were Levon Termendzyan, dubbed “the Lion,” a prominent figure in the Los Angeles energy sector, and his associate Jacob Kingston, a member of the infamous Mormon polygamist sect known as “The Kingston Clan.”
Together, they sought the assistance of Turkish biopharma billionaire Sezgin Baran Korkmaz to launder the illicit proceeds, amounting to hundreds of millions of dollars.
Ties to Intelligence
During sentencing hearings, references to Korkmaz’s relationship with James Woolsey, former CIA Director under President Bill Clinton and advisor to President Donald Trump, surfaced repeatedly. Kingston testified that Woolsey was referred to in conversations with Korkmaz as “Grandpa.” Kingston further claimed that funds sent to Korkmaz in Turkey were utilized to finance CIA operations with Kurdish groups, suggesting Korkmaz’s involvement in intelligence operations.
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Complexity Unveiled
The enormity of the crime prompted legal counsel to emphasize its intricate nature. Marc Agnifilo, Kingston’s attorney, highlighted the complexity of the operation, asserting that while some funds were believed to be sanctioned by the U.S. government and the CIA, layers of intrigue obscured the full extent of the operation.
With Korkmaz’s assistance, Kingston admitted to laundering approximately $140 million stolen from the U.S. Treasury in Turkey. They used this money to purchase luxurious assets, including the Mardan Palace hotel, the Borajet airliner, a waterfront villa in Istanbul, and a superyacht named the Queen Anne. Kingston believed that the funds he sent to Korkmaz were being used to finance CIA operations with Kurdish groups, according to his lawyer, Marc Agnifilo. The case is incredibly complex, with numerous layers of intrigue.
Legal Proceedings
Korkmaz’s flight from justice in 2020 led to his capture in Austria nearly a year later, followed by extradition to Utah. While initially housed alongside Kingston and Termendzyan, Korkmaz’s current whereabouts remain undisclosed. Despite a scheduled trial start date, a recent federal court filing postponed proceedings to November 2024.
This delay promises a high-profile case that will captivate spy-watchers, particularly given Korkmaz’s alleged ties to Woolsey and former CIA station chief for Turkey, Graham Fuller.