By Tony Hanson

PHILADELPHIA (CBS) — A 46-year-old Philadelphia man is in custody, charged with using his company to steal used cooking oil from area restaurants.

A grand jury has charged defendant Bernard Corbin with stealing hundreds of thousands of dollars’ worth of oil.

“They were taking advantage of new innovation in recycling used cooking oil that many companies in the area were doing,” says federal prosecutor David Axelrod, “and what Bernard Corbin’s company, ‘Simply Green,’ would do, as alleged in the indictment, was that they would go around and steal this cooking oil from containers that other companies put out at local businesses.”

Corbin allegedly equipped his employees with bolt cutters to break locks on the used oil containers waiting for pickup by legitimate recycling businesses.