SEC Charges Chinese Investment Firm and CEO in $6 Million Fraud Scheme

Publiktoday.com The U.S. Securities and Exchange Commission (SEC) has charged China-based investment firm QZ Asset Management Ltd. and its CEO, Blake Yeung (Pu Lei), with fraud. Yeung and his company allegedly defrauded hundreds of people out of at least $6 million through a pre-IPO scheme. The SEC accuses Yeung of misusing the SEC's filing process to lend legitimacy to his fraudulent activities, including making false claims about the IPO and the company's performance. Yeung claimed that QZ managed $8.4 billion in assets and experienced rapid growth due to big data AI technology, but the SEC found these claims to be inaccurate. Read more at NTD

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