RINO, Execs Pay $3.5M To Settle SEC Skimming Suit

Law360, New York (May 15, 2013, 3:42 PM EDT) -- Project finance company RINO International Corp. and two executives on Wednesday reached a settlement worth more than $3.5 million with the U.S. Securities and Exchange Commission over allegations the executives spent millions skimmed off of a securities offering for luxury purchases.

According to a complaint and settlement documents filed simultaneously in D.C. federal court, RINO CEO Dejun “David” Zou and board chairman Jianping “Amy” Qiu used proceeds from a $150 million primary securities offering to buy a $3.5 million home in Orange County, Calif., cars and...
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