SEC unveils fraud charges against L&L Energy

The SEC announces an enforcement action against L&L Energy (LLEN) and founder Dickson Lee for allegedly making false disclosures about who was running the coal company.

The SEC says LLEN made it seem like it had a professional management team in place, including a CEO and CFO, when Lee actually was single-handedly controlling operations.

In a parallel action, a criminal indictment against Lee was unsealed yesterday in federal court in Seattle.

The stock has been halted since November.

Comments (3)
  • Greenfire87
    , contributor
    Comments (661) | Send Message
    No disclosure on financials, just fraud upon Dickson for running the whole co.
    28 Mar 2014, 10:57 AM Reply Like
  • jdl51
    , contributor
    Comments (303) | Send Message
    These charges are for actions taken five years ago. I wonder what the implications are for the company now, it's operations, its listing or delisting, and whether or not the company can pull through this and continue selling and producing coal.
    28 Mar 2014, 12:01 PM Reply Like
    , contributor
    Comments (5) | Send Message
    This kind of stuff is nothing new to this snake. When he was a stockbroker in Wash ST he was fined $60K and suspended one year for a penney stock scam.It seems these type of people dont change. Ever watch the show AMERICAN GREED on CNBC ? He was handcuffed and taken to jail this past Thursday.Hope he serves plenty of time!
    30 Mar 2014, 05:01 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs