China Voice Executive Settles SEC Ponzi Claims

Law360, New York (August 31, 2011, 2:59 PM EDT) -- An executive and his investment companies involved in the alleged $8.6 million Ponzi scheme run by telecommunications provider China Voice Holding Corp. on Wednesday settled a fraud suit brought by the U.S. Securities and Exchange Commission.

Alex Dowlatshahi, 36, agreed to testify for the SEC as it continues its case against other China Voice executives, including ex-Chief Financial Officer David Ronald Allen, an SEC settlement agreement filed in court said. He did not admit liability.

Dowlatshahi will also face a civil fine and a disgorgement. He...
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Case Information

Case Title

Securities and Exchange Commission v. Allen et al


Case Number

3:11-cv-00882

Court

Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange

Judge

Reed C O'Connor

Date Filed

April 28, 2011

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