Reuters: Regulatory News: U.S. SEC charges China Natural Gas and executive

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U.S. SEC charges China Natural Gas and executive May 14th 2012, 19:53 WASHINGTON | Mon May 14, 2012 3:53pm EDT WASHINGTON May 14 (Reuters) - U.S. securities regulators on Monday charged China Natural Gas Inc and its chairman with defrauding investors by secretly loaning company funds to benefit the chairman's family. The U.S. Securities and Exchange Commission said Qinan Ji, China Natural Gas's former chief executive and current chairman, arranged two short-term loans in January 2010 totaling more than $14 million. The SEC said it is seeking financial penalties against the China-based company and Ji.

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