SEC Accuses Biofuel Company Of Fraud

Law360 (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...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. U. S. Sustainable Energy Corp et al

Case Number



Mississippi Southern

Nature of Suit



David C. Bramlette, III

Date Filed

July 16, 2008

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.