Skip to main content
Advertising

Originally published Friday, May 30, 2014 at 2:04 PM

  • Share:
           
  • Comments (0)
  • Print

L&L pleads not guilty to fraud

Seattle-based L&L Energy said Friday it has entered a plea of not guilty to federal charges of securities fraud.


By Seattle Times business staff

advertising

Seattle-based L&L Energy said Friday it has entered a plea of not guilty to federal charges of securities fraud.

L&L, which operates coal mines in China, said in a regulatory filing that the indictment of the company “will have a material negative impact on its business, financial condition, and results of operations.”

Federal prosecutors in early May added the charges against the company to their previous indictment of L&L’s founder and former CEO, Dickson Lee. Lee has pleaded not guilty.

The Securities and Exchange Commission is separately pursuing civil fraud charges against both Lee and L&L.

Both cases allege that Lee filed false regulatory documents by saying a certain person served as chief financial officer and oversaw the company’s financial statements in 2008 and 2009, when that person was not working for the company at all.

Those filings enabled L&L to be listed on Nasdaq, which delisted the company last fall after questions about its finances were raised by short sellers.



Want unlimited access to seattletimes.com? Subscribe now!

News where, when and how you want it

Email Icon

Seattle Sketcher Book

Seattle Sketcher Book

Due to popular demand, the pre-sale price of $29.95 is extended until October 5!

Advertising

Advertising


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►