Defendant Name: China Natural Gas, Inc.

Defendant Type: Public Company
SIC Code: 3580
CUSIP: 16891020

Initial Case Details

Legal Case Name SEC v. China Natural Gas, Inc. and Qinan Ji
First Document Date 14-May-2012
Initial Filing Format Civil Proceeding
Case Number 12-cv-03824
Allegation Type Issuer Reporting and Disclosure
Federal District Court New York, Southern District of New York

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-11
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 14(a)
• Rule 14a-9
Securities Act
• Sec 17(a)(2)
• Sec 17(a) (Not specified)
Additionally, Qinan Ji is alleged to have aided and abetted China Natural Gas, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Qinan Ji is alleged to have aided and abetted China Natural Gas, Inc.'s violation of Sec 13(a) of the Exchange Act.
Qinan Ji is alleged to have aided and abetted China Natural Gas, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Qinan Ji is alleged to have aided and abetted China Natural Gas, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Qinan Ji is alleged to have aided and abetted China Natural Gas, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Qinan Ji is alleged to have aided and abetted China Natural Gas, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Qinan Ji is alleged to have aided and abetted China Natural Gas, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Qinan Ji is alleged to have aided and abetted China Natural Gas, Inc.'s violation of Sec 17(a)(2) of the Securities Act.

Resolutions

First Resolution Date 06-Jun-2013

Related Documents:

LR-22368 14-May-2012 Litigation Release
SEC Charges China Natural Gas and its Chairman for Concealing Loans to Benefit His Family
On May 14, 2012, the SEC issued a litigation release announcing that it charged China Natural Gas, Inc. and its chairman and former CEO for defrauding investors by secretly loaning company funds to benefit the CEO's family while failing to disclose the true nature of the loans.
comp-pr2012-92 14-May-2012 Complaint
Complaint
On May 14, 2012, the SEC charged China Natural Gas, Inc. and Qinan Ji. According to the complaint: "This case involves the fraudulent concealment of two related party loans by defendant [China Natural Gas, Inc. ('CHNG')], a U.S. public corporation, and defendant [Qinan] Ji, CHNG's chairman and former CEO, and CHNG's failure to timely and properly report a material acquisition in 2008."
2012-92 14-May-2012 Press Release--Civil Action
SEC Charges China-Based Company and Executive for Concealing Loans to Benefit His Family
On May 14, 2012, the SEC charged China Natural Gas, Inc. and its executive for defrauding investors by secretly loaning company funds to benefit his son and nephew while failing to disclose the true nature of the loans. According to the SEC, Ji coordinated short-term loans benefiting a nephew and business partner.
court_doc13_12-cv-03824 06-Jun-2013 Court Docket Document
Final Judgment as to Defendant China Natural Gas, Inc.
On June 5, 2013, Federal District Judge Paul G. Gardephe entered final judgment against China Natural Gas, Inc. pursuant to the consent of China Natural Gas, Inc.
LR-22719 07-Jun-2013 Litigation Release
China Natural Gas and Executive Settle Fraud Charges
On June 7, 2013, the SEC published a litigation release regarding this matter. According to the SEC: "on June 5, 2013, the U.S. District Court for the Southern District of New York entered settled final judgments as to defendants China-based China Natural Gas Inc. and its chairman and former CEO Qinan Ji. The defendants have agreed to pay penalties to settled fraud charges the SEC brought against them last year for secretly loaning company funds to benefit Ji's son and nephew while failing to disclose the true nature of the loans."

Other Defendants in Action:

Qinan Ji