China Natural Gas Chief Funneled $14.3M To Family, SEC Says

Law360, New York (May 14, 2012, 7:57 PM EDT) -- The U.S. Securities and Exchange Commission on Monday accused China Natural Gas Inc. and its chairman of defrauding investors by secretly loaning $14.3 million of company money to his son and nephew, then lying to cover up the loans.

Qinan Ji, former CEO and current chairman of China Natural Gas, coordinated two short term loans to his relatives in January 2010 and told the company's board and investors that the loans had been made to obtain approvals from senior Chinese government officials who were in charge...
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