Defendant Name: Subaye, Inc.

Defendant Type: Public Company

Document Reference: LR-22698

Document Details

Legal Case Name SEC v. Subaye, Inc. and James T. Crane
Document Name SEC Charges China-based Company and Former Chief Financial Officer in Fraudulent Scheme Involving Non-Existent Computing Business
Document Date 08-May-2013
Document Format Civil Proceeding
Case Number 13-cv-03114
Federal District Court New York, Southern District of New York
AAER 3458
Allegation Type Issuer Reporting and Disclosure
Document Summary On May 8, 2013, the SEC announced that Subaye, Inc. agreed to settle the matter with the SEC and consented to the entry of a final judgment permanently enjoining Subaye, Inc. from future violations of sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act of 1934 and Rules 10b-5, 12b-20, 13a-1 and 13a-11 of the Exchange Act.

Disgorgement & Penalty Information

Resolutions
Enjoinment

Related Documents:

comp22698 08-May-2013 Complaint
Complaint: Jury Trial Demanded
On May 8, 2013, the SEC filed a civil action against Subaye, Inc. and its former CFO. The SEC complaint stated that: "This case involves a securities fraud perpetrated by Subaye, a China-based company whose stock trades in the United States, and its former Chief Financial Officer, James Crane. During at least 2010-2011, Subaye and Crane engaged in a fraudulent scheme involving misrepresentations about the company's business and operations, deceiving the company's auditors and misleading investors about the company's true status and revenues."
court_doc8_13-cv-03114 15-May-2013 Court Docket Document
Amended and Revised Final Judgment as to Defendant Subaye, Inc.
On May 15, 2013, Federal District Judge P. Kevin Castel entered final judgment against Subaye, Inc. pursuant to the consent of Subaye, Inc. The Court stated that "based on Defendant's cooperation in a Commission investigation and related enforcement action, the Court is not ordering Defendant to pay a civil penalty."

Other Defendants in Action:

James T. Crane

Related Actions:

In the Matter of James T. Crane, CPA
James T. Crane
In the Matter of Bryce Walker, CA and Spence Walker, CA, CPA
Bryce Walker, CA
Spence Walker, CA, CPA