SEC Accuses Biofuel Company Of Fraud

Law360, New York (July 21, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission lodged a complaint Friday, accusing U.S. Sustainable Energy Corp. and its chief executive officer of operating a pump-and-dump scheme based on untrue claims about the company's biofuel capabilities.

The complaint, filed in the U.S. District Court for the Southern District of Mississippi, alleges John H. Rivera caused USSE to issue false and misleading press releases and other statements about the company’s technology and business prospects.

Between October 2006 and February 2007, Rivera artificially inflated USSE’s stock by making fabricated claims...
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