Equipment Seized From Plantation at Center of UK Fraud Probe
Forestry Administration officials have seized equipment valued at $1.5 million from a Banteay Meanchey province biofuel plantation, which is being investigated for fraud in the UK, company and forestry officials said yesterday. Sustainable Agro Energy’s assets were frozen in February and investigators at the U.K.’s Serious Fraud Office believe that the company was run as a Ponzi scheme. The company’s British owner, Gregg Fryett, has denied defrauding investors in the UK on the promise, which was never fulfilled, that biofuel would be produced from jatropha trees at his plantation in Cambodia. …
