Mon, Oct 24, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

SEC charges NY based fund manager with insider trading & other violations involving Chinese reverse mortgage company

Thursday, August 02, 2012

Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has charged a New York based fund manager, Peter Siris and two of his firms with a host of securities law violations mostly related to his activities with a Chinese reverse merger company, China Yingxia International Inc. According to charges laid out in two complaints, the SEC charges that Siris misled investors in his two hedge funds through which he invested $1.5 million in China Yingxia.

The regulator says that Siris understated his involvement in the Chinese firm even after it went out of business and made trades on the business using insider information. Siris is also said to have received shares in the company from the China Yingxia CEO’s father, and traded them without registering with regulators. Siris further engaged in insider trading ahead of 10 confidentially solicited offerings for other Chinese issuers. The regulator also claims that Sirius sold short the securities of two Chinese companies prior to participating in firm-commitment offerings.

Siris and his firm have settled with the SEC and agreed to pay $1.1 million in fines. Five other individuals were also charged separately in the matter. Ren Hu, the former CFO of China Yingxia has also been charged for making allegedly fraudulent representations in Sarbanes-Oxley (SOX) certifications, lying to auditors, failing to implement internal accounting co......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion