SEC files suit against Lee Rosen of New Generation Biofuels Holdings

In New York, the Securities and Exchange Commission (SEC) has filed a suit against former chairman of New Generation Biofuels Holdings, Lee Rosen, claiming that he avoided reporting his ownership interest in the company. Rosen will settle with the SEC, paying nearly $1m in fines, and will be barred from the company’s executive positions. The SEC has recently been cracking down on a number of missing disclosures within the biofuels industry, suspending trading of New Generation Biofuels stock earlier this year.

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