SEC Raids Imperial Petroleum HQ In Fuel Credit Probe

Law360, New York (June 1, 2012, 7:22 PM EDT) -- Federal investigators have raided the Indiana headquarters of Imperial Petroleum Inc. and subpoenaed company officials as part of a grand jury inquiry into possible fraud over renewable fuel credits, filings with the U.S. Securities and Exchange Commission revealed Thursday.

Imperial and E-Biofuels LLC, a wholly owned subsidiary of Imperial that the company acquired in May 2010, are wrapped up in an investigation into potentially fraudulent renewable identification numbers, according to SEC filings and officials familiar with the probe. RINs are used to track compliance with federal...
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