Benjamin Wey, who made a career of bringing Chinese companies onto U.S. exchanges, was indicted for fraud in connection with three reverse mergers, Bloomberg News reported yesterday. Wey is accused of using family members to help him secretly amass ownership of large blocks of stock in companies he took public and then manipulate the price of their shares. Prosecutors claim that he was aided in the scheme by a broker in Switzerland, Seref Dogan Erbek, who was also charged yesterday. The founder of New York Global Group was recently found liable in an unrelated lawsuit claiming he sexually harassed a Swedish intern, Hanna Bouveng, and then falsely smeared her as a prostitute and drug addict. A Manhattan jury in June awarded Bouveng $18 million.
