USSE, founder face charges

By | September 16, 2008
A civil complaint has been filed in the U.S. District Court of Southern Mississippi by the U.S. Securities and Exchange Commission against U.S. Sustainable Energy Corp., and its Chairman and Founder John Rivera, for allegedly making more than $721,000 on the company's own stock. According to the filing, USSE used false and misleading statements, press releases and oral statements to inflate its share price between October 2006 and February 2007. In addition, on July 31, Rivera was arrested in Baytown, Texas, on charges of grand theft worth more than $20,000 stemming from a relationship with "a previous company at which [Rivera] was an officer in Palm Beach, Fla.," according to Rivera's attorney Richard Cutler.
 
 
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