Defendant Name:
Universal Travel Group
Defendant Type:
Public Company
SIC Code:
4729
CUSIP:
91388Q20
Document Reference:
complaint_13-cv-01492
Document Details
Legal Case Name
SEC v. Universal Travel Group, Jiangping Jiang and Jing Xie
Document Name
Complaint
Document Date
27-Sep-2013
Document Format
Civil Proceeding
Case Number
13-cv-01492
Federal District Court
District of Columbia, District of Columbia
Allegation Type
Issuer Reporting and Disclosure
Document Summary
In the Complaint, the SEC stated: "In this fraud action, the defendants, Universal Travel Group (UTG), a travel company based in the People's Republic of China ('PRC'); UTG's former Chief Executive Officer Jiangping Jiang ('Jiang'); and UTG's former Chief Financial Officer, Jing Xie ('Xie'), raised approximately $41 million in public and private stock offerings in the United States and defrauded UTG's investors by failing to disclose the risky transfer of the proceeds to numerous unknown parties in Hong Kong and the PRC. The defendants have failed properly to account for the return of those funds to UTG."
Other Defendants in Action:
