Australia’s National Biodiesel Ltd. may get closer look by corporate watchdog

In Australia, the country’s corporate watchdog, the Australian Securities & Investments Commission, is said to be investigating the defunct National Biodiesel Ltd. that sought to invest A$300 million in a soybean biodiesel facility south of Sydney. Minority retail investors are thought to have lost most or all of their savings on the deal while major shareholders may end up getting profit out of the deal. As such the commission is looking into the controversial deal that was set up by a well-known South African fraudster.