Defendant Name: Universal Travel Group

Defendant Type: Public Company

Document Reference: LR-22823

Document Details

Legal Case Name SEC v. Universal Travel Group, Jiangping Jiang and Jiang Xie
Document Name SEC Files Fraud Charges Against Universal Travel Group, Its Former CEO and Chair, Jiangping Jiang, and Its Former Director, Secretary and Interim CFO, Jing Xie
Document Date 27-Sep-2013
Document Format Civil Proceeding
Case Number 13-cv-01492
Federal District Court District of Columbia, District of Columbia
AAER 3494
Allegation Type Issuer Reporting and Disclosure
Document Summary On September 27, 2013, the SEC published litigation release in this matter. According to the release, the SEC filed fraud charges against Universal Travel Group (UTG), its former CEO and chair, Jiangping Jiang, and its former director, Secretary and Interim CFO, Jing Xie. UTG, Jiang, and Xie have agreed to settle the SEC's claim against them.

Disgorgement & Penalty Information

Resolutions
Enjoinment

Related Documents:

complaint_13-cv-01492 27-Sep-2013 Complaint
Complaint
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."
court_doc4_13-cv-01492 30-Sep-2013 Court Docket Document
Final Judgment as to Defendant Universal Travel Group
On September 30, 2013, Federal District Judge Ellen S. Huvelle entered final judgment against Universal Travel Group pursuant to the consent of Universal Travel Group.

Other Defendants in Action:

Jiangping Jiang
Jing Xie

Related Actions:

In the Matter of Jing Xie
Jing Xie
In the Matter of EFP Rotenberg, LLP and Nicholas R. Bottini, CPA
EFP Rotenberg, LLP
Nicholas R. Bottini, CPA