SEC Sues Chinese Coal Execs For Secret Sale To PE Firm

Law360, New York (February 24, 2012, 5:47 PM EST) -- Federal regulators on Friday accused two executives of a New York Stock Exchange-listed Chinese coal company of secretly stealing the company's assets and selling them to a Chinese private equity firm, then misleading U.S. investors in a $100 million initial public offering.

The U.S. Securities & Exchange Commission's suit, filed in New York federal court, claims that Puda Coal Inc. board chairman Ming Zhao transferred a controlling interest in the company's coal mines to himself, then sold it to Citic Trust Co. Ltd., the private equity...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. Zhao et al

Case Number



New York Southern

Nature of Suit



Denise L. Cote

Date Filed

February 21, 2012

Law Firms


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.