Reuters: Regulatory News: US SEC charges China-based Sky One with securities fraud

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US SEC charges China-based Sky One with securities fraud Sep 4th 2012, 18:37 WASHINGTON, Sept 4 | Tue Sep 4, 2012 2:37pm EDT WASHINGTON, Sept 4 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday charged China-based China Sky One Medical Inc with securities fraud and said the company recorded fake sales of a weight loss product. The SEC also charged the company's chief executive and said China Sky One inflated revenues in its financial statements by millions of dollars.

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