Dive summary:

• The U.S. Securities and Exchange Commission has approved a settlement against clean energy company that recycles waste plastic into fuel, JBI Inc, and its former CEO, John Bordynuik.
• The SEC filed a lawsuit last year claiming the company reported false and inaccurate information regarding its financial statement.
• The settlement would require JBI to pay a civil penalty of $150,000 and Bordynuik to pay $110,000.

 From the article:

The SEC filed a lawsuit in January 2012 alleging the company and Bordynuik had reported false and inaccurate information on its financial statements in 2009. Bordynuik has since stepped down from the position.

The settlement, which awaits court approval, would require the company to pay a civil penalty of $150,000 and Bordynuik to pay $110,000, a company press release indicates.

"This is a very positive development in the life of our company, and we are pleased that this matter has been resolved," Kevin Rauber, the company's CEO, said in the release. ...