Bankrupted Coal Company Black Jewel Accuses CEO of Fraud

Attorneys for bankrupt coal company Blackjewel LLC and its creditors are asking a judge to let them examine the finances of former CEO Jeff Hoops, alleging that he took millions of dollars for personal gain.

In documents filed Friday in U.S. Bankruptcy Court, lawyers for West Virginia-based Blackjewel said the company was “woefully insolvent" by the time it filed for Chapter 11 bankruptcy protection.

The Casper Star-Tribune reports that the filing accuses Hoops of transferring “tens of millions of dollars” of the company's money for the benefit of him and his family.

Hoops declined to comment.