Violation Tracker Individual Record

Company: 
Worldwide Energy and Manufacturing USA Inc.
Penalty: 
$100,000
Year: 
2012
Date: 
September 6, 2012
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

A solar panel manufacturer headquartered in South San Francisco and three of its former executives settled SEC allegations that they defrauded investors by concealing the transfer of nearly half of the ownership stake in its Chinese subsidiary to three individuals in China who managed the subsidiary.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.