Facts

The Securities and Exchange Commission filed suit against defendant Bingqing Yang and her management companies Luca 4 International Group, LLC, Luca Resources Group, LLC and Luca Energy Fund, LLC, regarding securities violations.

PLAINTIFF CONTENTIONS: Plaintiff contended that from 2007 until 2014, defendants engaged in a fraudulent scheme deceiving investors, causing them substantial economic injury of more than $68 million. Plaintiff also contended that these acts by defendants constituted securities violations.

DEFENDANT CONTENTIONS: Defendants denied all allegations.

Result

Yang consented to entry of a final judgment permanently enjoining her from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1), (2) and (4) of the Investment Advisers Act of 1940 and Rule 206(4)-8 thereunder, from participating in the issuance, offer or sale of any security of an entity she controls; from soliciting any person or entity to purchase or sell any security; and from acting as an officer or director of a public company. The final judgment also orders Yang to pay a total of $700,000 (including $209,672 in disgorgement, $64,579 in prejudgment interest, and a $425,749 civil penalty).