Defendant Name:
Ideanomics, Inc. (f/k/a Seven Star Cloud Group, Inc.)
Defendant Type:
Public Company
SIC Code:
5990
CUSIP:
45166V20
Document Reference:
33-11296
Document Details
Legal Case Name
In the Matter of Ideanomics, Inc. (f/k/a Seven Stars Cloud Group, Inc.), Alfred Poor, and Federico Tovar
Document Name
Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule 102(e) of the Commission's Rules of Practice, Making Findings, Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
09-Aug-2024
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On August 9, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Ideanomics, Inc., Alfred P. Poor, and Federico Tovar, stating: "These proceedings involve multiple acts of accounting and disclosure fraud by Ideanomics, a publicly traded company, and its senior management."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
The Commission ordered that: "Monies paid in this proceeding may be combined with any other Distribution Fund or Fair Fund in a related proceeding arising out of the same underlying facts, including but not limited to, the related action captioned In the Matter of Zheng (Bruno) Wu, for the purposes of distribution, if feasible, to harmed investors."
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$1,400,000.00
Shared:
Other Defendants in Action:
