SEC Sues Ex-Syntax Execs For Fraud

Law360, New York (August 31, 2011, 1:48 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday accused three executives at the defunct Syntax-Brillian Corp., which made televisions under the name Olevia, of securities fraud in Arizona for allegedly overstating revenues.

The executives — former Syntax President James Li, former Chief Procurement Officer Thomas Chow and former Chief Financial Officer Wayne Pratt — allegedly set up a so-called circular cash flow scheme where money paid out to a supplier was secretly routed back through a go-between and booked as sales.

Christopher Liu and Roger Kao...
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