Lawsuit alleges fraud by KiOR executives, investors

The state is suing executives from KiOR and its primary investor for fraud, alleging they intentionally misrepresented the capability of technology that would use biomass to produce crude oil in order to secure a loan from the Mississippi Development Authority.

The suit, filed Tuesday in Hinds County Circuit Court, seeks compensatory and punitive damages. Listed as defendants are KiOR CEO Fred Cannon, former president of strategy Andre Ditsch, board of directors member Gary Whitlock, venture capital firm Khosla Ventures, firm founder Vinod Khosla and managing partner Samir Kaul.

Clarion Ledger