
VCG
China’s Sinovel Wind Group is coughing up more money to settle the last of a series of disputes growing out of a three-year-old financial fraud case.
This time, the payment will total 2.52 million yuan ($363,000) to compensate Chinese investors. In January, the Chinese wind turbine maker was convicted of theft of trade secrets in the U.S. and fined $1.5 million.
Shanghai-listed Sinovel has faced a series of lawsuits from domestic investors since 2015, when the Chinese securities regulator found that the company inflated its reported 2011 earnings by 38%.
The Chinese Securities Regulatory Commission fined the company 600,000 yuan that year and imposed business bans or fines on seven company executives.
The 2.52 million yuan agreement between Sinovel and 81 investors was the last round of compensation to end the three-year disputes with investors.

