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Hapless SEC Sues AutoChina for Alleged Stock Manipulation
AutoChina (OTC: AUTCF), China’s largest commercial vehicle sales, servicing, leasing, and company said the SEC’s complaint is without merit, thereby setting up an intricate and lengthy court battle with the watchdog that does not bark. SEC claimed that AutoChina senior executive and director Hui Kai Yan, a former AutoChina manager, and others fraudulently traded AutoChina’s stock to boost its daily trading volume. Continue reading
Posted in auto news, fools 'n frauds, litigation, news, news analysis, people
Tagged auto informed, autochina, autoinformed.com, automotive news, Ken Zino, sec, stock manipulation
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