The US Securities and Exchange Commission (SEC) charged the now-dissolved firm China MediaExpress and its CEO with fraud on Thursday, Reuters reported. The company allegedly falsified financial statements to show increases in operations, profits and other financial conditions upon listing through a reverse merger in 2009. Chairman and CEO Zheng Cheng attested to the veracity of the firm’s filings and allegedly tried to bribe an accountant investigating the potential fraud. The company was delisted in 2011 and deregistered in 2012. The SEC’s Cross-Border Working Group has filed more than 65 cases against companies or executives and deregistered the securities of more than 50 companies.
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