SEC approves settlement of fraud lawsuit plastic waste-to-fuel firm, CEO

By Kerri Jansen WASTE & RECYCLING NEWS

Published: January 24, 2013 2:05 pm ET
Updated: January 24, 2013 4:30 pm ET

Related to this story

Topics Recycling

NIAGARA FALLS, N.Y. -- The U.S. Securities and Exchange Commission has approved the settlement of a lawsuit against JBI Inc., a clean energy company that recycles waste plastic into fuel, and its former CEO, John Bordynuik, the company announced.

The SEC filed a lawsuit in January 2012 alleging the Niagara Falls company and Bordynuik had reported false and inaccurate information on its financial statements in 2009. Bordynuik has since stepped down from the position.

The settlement, which awaits court approval, would require the company to pay a civil penalty of $150,000 and Bordynuik to pay $110,000, the company said in a news release.

"This is a very positive development in the life of our company, and we are pleased that this matter has been resolved," Kevin Rauber, the company's CEO, said in the release.


Comments

SEC approves settlement of fraud lawsuit plastic waste-to-fuel firm, CEO

By Kerri Jansen WASTE & RECYCLING NEWS

Published: January 24, 2013 2:05 pm ET
Updated: January 24, 2013 4:30 pm ET

Post Your Comments


Back to story


More stories

Image

Bubbles add some flair to 'Plain Jane' PET bottles

December 17, 2014 1:05 pm ET

Ron Puvak and the folks over at Plastic Technologies Inc. see big things coming from some very tiny bubbles.    More

McCann expanding in Ohio

December 17, 2014 11:59 am ET

Compounding firm McCann Plastics will spend $1.2 million on an expansion project that will create 15 new jobs at its plant in Green, Ohio.    More

Image

Bayer launches PC sheet production in Guangzhou, China

December 17, 2014 6:00 am ET

Bayer MaterialScience (BMS) has started its new polycarbonate sheet production plant at its Guangzhou, China, site.    More

Image

New extruders, repelletizer to improve production for InterGroup

December 17, 2014 6:00 am ET

InterGroup International Ltd. will install new, larger extruders and repelletizers at all three of its plastic scrap recycling locations in 2015.    More

Image

Investments allow UK's Jayplas to keep recycling supply chain at home

December 17, 2014 9:32 am ET

Corby, England-based plastics recycler Jayplas has announced the completion of a new extrusion and printing plant, together with a new packaging divis...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events