Chinese video streaming provider Leshi Internet Information and Technology and its founder, Jia Yueting, have been fined about 482 million yuan (US$73.6 million) by regulators for financial fraud committed from 2007 to 2016.
The China Securities Regulatory Commission (CSRC) had fined the company 240.6 million yuan for falsifying earnings in the 10-year period and for misreporting facts in its initial public offering (IPO) documents, Leshi said late on Monday. It made its trading debut on the ChiNext, a technology board for Chinese start-ups on the Shenzhen Stock Exchange, in 2010. Jia, 48, has been fined 241 million yuan for the same offences.
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