The US Justice Department charged two men for allegedly bilking US investors out of millions of dollars by inflating the price of US shares in a Nanjing-based company — spotlighting how the Trump administration is ratcheting up scrutiny of trading in Chinese companies on American stock exchanges.
The case accuses the pair of allegedly inflating the price of shares in Ostin Technology Group Co., which trades on the Nasdaq stock exchange, according to an indictment filed in Virginia. The two men allegedly then dumped their shares and reaped more than $100 million.
