SEC sues Chinese hog firm

The Securities and Exchange Commission sued a Chinese animal feed and hog provider on Tuesday over accounting fraud, The Wall Street Journal reported, citing a press release by the US regulator. The suit filed in federal court in Tennessee alleges that AgFeed Industries created fake invoices for the sale of feed and purported to sell hogs that didn’t actually exist, inflating the company’s revenue by US$239 million, or 71% to 103% from 2008 to 2011. AgFeed was based in China and publicly traded in the US before it merged with a US company in 2010.