Ronald Van Den Heuvel, 62, of De Pere, Wis. is being charged with wire fraud and money laundering, according to a press release from the U.S. Attorney’s Office for the Eastern District of Wisconsin. In addition, the U.S. Securities and Exchange Commission has filed a civil suit against him.
Van Den Heuvel obtained more than $9 million in loans and investments for his “Green Box” process, advertised as a technology capable of recycling food-contaminated fiber into usable products. Instead of investing in the recycling operation, he spent much of the money to pay old debts and personal expenses, including a new Cadillac Escalade, Green Bay Packers tickets and court-ordered support payments for his ex-wife, according to prosecutors.
Among those providing funding for Green Box was the Wisconsin Economic Development Corporation, which awarded a $1.12 million loan to buy equipment for Green Box and a nearly $100,000 grant to train new workers, according to the press release.
More stories about fiber
- Paper producers reflect on OCC prices, upcoming plants
- Time to recalculate?
- Editor’s Perspective: First look at a retooled paper mill