China Sky One, chief executive charged with securities fraud: US

China Sky One inflated revenues in its financial statements by booking US$19.8 million in phony export sales, the SEC said.

The company, based in China, said in 2007 securities filings it had entered into a distribution agreement with a Malaysian company that would generate the sales, but never entered into such an agreement, the SEC said on Tuesday.

The company's chief executive, Yan-qing Liu, certified the overstated financial results, which appeared in financial statements through 2010, the SEC said.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Mainland China will need 5,260 commercial jets by 2031: Boeing

NEXT ARTICLE
Lynas gets Malaysia's approval to kick-start rare earths facility

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit