Police say Robert Bailey syphoned the oil from foreclosed homes in Mastic Beach.
He allegedly pumped the oil from the empty homes into a rented truck.
Investigators say he planned to sell the oil - the truck held more than 1,200 gallons of it - it through websites.
Prosecutors say that because the houses are in foreclosure and owned by the bank, it is unclear if the property owners will file charges against Bailey.
But the town has filed charges, including illegal transportation and not having HazMat placards on the truck.
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