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SEC sues China-based Subaye over 'fraudulent scheme' |
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Yahoo! Tech/Internet News
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05/08/2013 at 18:29:10 |
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By Nate Raymond NEW YORK (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday that Subaye Inc agreed to settle claims the China-based online services provider deceived auditors and misled investors about its business. The settlement, which the agency said includes injunctions but no money, was announced as the SEC filed a lawsuit in U.S. District Court in New York against Subaye and its former chief financial officer. Subaye is neither admitting nor denying the allegations, the SEC said. ...
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