L&L Energy

L&L Energy Inc.
Company typePublic (OTC Pink: LLEN)
IndustryMetals and Mining
Founded1995
DefunctMarch 2, 2015
HeadquartersSeattle, Washington, United States
Area served
People's Republic of China
Key people
Dickson V. Lee (CEO)
Clayton Fong (Vice President)
Ian G. Robinson (CFO)
ProductsCoal
ServicesCoal production

L&L Energy, Inc. was an American company headquartered in Seattle, Washington, in the business of producing, processing, and selling coal in the People's Republic of China.

As of 2011, the company was focused on acquiring small-scale coal mining operations in China, as well as supplies of American coal that it planned to process and sell in China.[1]

The company was de-listed from the NASDAQ in April 2014, shortly following the announcement of investigations of the company by the SEC and Department of Justice.[2] In 2015, the U.S. District Court sentenced the company to five years of probation, and CEO Dickson Lee (Now Ted Lee) to a five-year prison term for securities fraud.[3][4] Lee was accused of misrepresenting the company's chief financial officer and internal controls in order to achieve a stock market listing, and of deceiving investors.[5] However, he was not arrested.

Former U.S. Transportation Secretary Norman Mineta at one time served on the board of the company.[6]

References

  1. ^ Barker, Christopher (2011-06-16). "Under the Microscope in China: L&L Energy". www.fool.com. Retrieved 2016-07-29.
  2. ^ Inc., L & L Energy. "L&L Energy to Voluntarily Delist from the NASDAQ Stock Exchange". www.prnewswire.com. Retrieved 2016-07-29. {{cite web}}: |last= has generic name (help)
  3. ^ "Company profile". L&L Energy. Archived from the original on 22 June 2008. Retrieved 4 March 2013.
  4. ^ "L&L Energy buys majority stake in Chinese coal mine. L&L Energy founder gets 5 years in U.S. prison for fraud". Mining.com. 2012-06-18. Retrieved 4 March 2013.
  5. ^ "Coal company L&L Energy founder gets 5 years in U.S. prison for fraud". Reuters. 2015-02-20. Retrieved 2016-07-29.
  6. ^ Greenberg, Herb (2010-12-21). "Greenberg: Dangers Lurk in Chinese Reverse Mergers". CNBC. Retrieved 2016-07-29.

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