The Serious Fraud Office (SFO) has charged four men connected to Sustainable AgroEnergy plc (SAE) with offences of conspiracy to commit fraud by false representation and conspiracy to furnish false information in breach of section 1 of the Criminal Law Act 1977.

The four men, which include the former Director and Chief Commercial Officer of SAE, the former CEO of SAE, an Independent Financial Adviser and a former Financial Controller of SAE, were charged in connection with an investigation by the SFO into the promotion and selling of “bio fuel” investment products to UK investors. The value of the alleged fraud is approximately £23 million.
Three of these men were also charged with making or accepting a financial advantage contrary to section 1(1) and 2(1) of the Bribery Act 2010. This is the first time that the SFO has brought charges under this legislation.

A copy of the related SFO press release is available.  http://www.sfo.gov.uk/press-room/latest-press-releases.aspx