Tuesday 18th Jun 2019 - Logistics Manager Magazine

Greenergy faces fraud investigation into biodiesel trading

The Serious Fraud Office has launched an investigation into biodiesel trading at fuel supplier Greenergy.

The investigation is being carried out jointly with authorities in the Netherlands and also covers a number of third parties.

The SFO said: “Searches were conducted on the 30th April at five sites across the UK and additional sites in the Netherlands and Belgium. Four individuals have been arrested and released without charge.”

Greenergy said in a statement: “On Tuesday 30 April 2019, Greenergy became aware of an ongoing investigation into aspects of its biodiesel trading business and various third parties as part of a co-ordinated operation involving the UK and Dutch authorities.

“The company takes these matters very seriously and is engaging and co-operating fully with the authorities. As this is an ongoing investigation, we are not permitted to give any further details at this time.”

Greenergy was founded in 1992 to supply branded low sulphur fuels, initially to the Swedish market. It launched its first ultra-low sulphur diesel in the UK in 1995. In the year to April 2017, it had sales of £14.9 billion.