IFA among four charged over £23m biofuel fraud

The Serious Fraud Office (SFO) has charged four men, including an independent financial adviser (IFA), with fraud in connection with the promotion of biofuel investment products through SIPPs to UK investors.

The charges, for conspiracy to commit fraud by false representation and conspiracy to furnish false information, were made following the SFO's investigation into Sustainable AgroEnergy, with which the men were associated. The investigation found that the four committed fraud valued at approximately £23m and the offences are said to have taken place between April 2011 and February 2012. The men, who are all British nationals, are former director and chief commercial officer of Sustainable AgroEnergy Gary Lloyd West, former chief executive officer of Sustainable AgroEnergy James Brunel ...