A court has awarded over $10-million in damages for fraud perpetrated by Cello, a biofuel company. If you’ve read Anthony Trollope’s THE WAY WE LIVE NOW you could have predicted something like this. Scams are as old as the stock market. If you follow any current headlines you know any innovation or investment trend is quickly seized upon by a Worldcom, an Enron, a Bernie Madoff. Biofuel is so promising. And one thing it promises: scam artists.
Among the names connected to Cello: Vinod Khosla, a Silicon valley VC who’s supported several biofuel start-ups. It was recently reported that Khosla put over 12-million into the firm though it was NOT listed on his VC firm’s website. Can he get a refund?
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