U.S. Court-appointed Receiver for Sino Clean Energy Inc. (Nasdaq “SCEI”) Files Criminal Charges in Hong Kong against Chairman of Nasdaq-listed China energy company accusing him of fraud on U.S. and Chinese investors

BY PR NEWSWIRE

Robert Seiden, Esq., the Court-appointed receiver (the “Receiver”), over Sino Clean Energy, Inc. (“SCEI”) filed criminal charges with the Hong Kong Police Commercial Crimes Bureau on May 22, 2015 detailing that SCEI’s Chairman, Baowen Ren, undertook a fraudulent backdated-transfer of shares in the Hong Kong subsidiary of the company, Wiscon Holdings Limited (“WHL”) to a shell company in the British Virgin Islands that he controls, Dacona Limited (“Dacona”), thereby stealing the shareholders’ interest (including the shares held by many U.S. and Chinese citizens).  The forms memorializing these actions were filed in November 2014, which was six months after the Receiver’s appointment and were filed secretly without the Receiver’s knowledge or approval and after the Receiver had effectively taken control over WHL. . .

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Seiden Law Group LLP

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