DOJ Seizes $214 Million From Alleged Chinese Stock Scheme

A judge’s order allows the government to return the funds to the victims.

The crest of the United States Department of Justice (DOJ) is seen at their headquarters in Washington, D.C., U.S., May 10, 2021. Reuters/Andrew Kelly/File Photo/File Photo

The U.S. Attorney’s Office, Northern District of Illinois, seized $214 million in an ongoing case alleging that seven people defrauded investors by manipulating shares of China Liberal Education Holdings, Ltd. (CLEU), which can now be returned to victims.

“Our attorneys and staff in this case placed a high priority on recovering funds for victims,” U.S. Attorney for the Northern District of Illinois Andrew Boutros said on May 28.