Newscast Media WASHINGTON—The Securities and Exchange Commission has
charged corporate executives with conducting a massive accounting fraud in which
they repeatedly reported fake revenues in order to meet financial targets and prop up
the stock price.
The SEC alleges that four executives in China orchestrated the scheme at AgFeed
Industries Inc., which was based in China and publicly traded in the U.S. before
merging with a U.S. company in September 2010 and spreading its operations
between the two countries. CONTINUE TO FULL STORY>>