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Investigation Details
The United Stated Securities and Exchange Commission posted an announcement on its website entitled “SEC Charges Future FinTech CEO Shanchun Huang with Fraud and Disclosure Failures” on January 11, 2024. It further stated, “[t]he Securities and Exchange Commission today charged Shanchun Huang with manipulative trading in the stock of Future FinTech Group Inc., using an offshore account shortly before he became Future FinTech’s CEO in 2020. The SEC also charged Huang with failing to disclose his beneficial ownership of Future FinTech stock as well as transactions in such stock.”
Following this news, the price of Future FinTech stock declined over 16%.
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