United States solar manufacturer Worldwide Energy Manufacturing agreed to pay a US$100,000 fine for misleading investors on a partial transfer of ownership to its subsidiary in China. The Securities and Exchange Commission said the firm would pay the fine without admitting that it had falsified reports and concealed the transfer while raising capital from US investors in 2010 to grow its Chinese operations. The SEC also fined former president Jeffrey Watson and former vice president Mindy Wang - who is the wife of founder Jimmy Wang - $50,000 each for securities fraud.
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