NEW YORK, Jan. 01, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Singularity Future Technology Ltd. f/k/a Sino-Global Shipping America Ltd. (“Singularity” or the “Company”) (NASDAQ: SGLY). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Singularity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 5, 2022, Hindenburg Research (“Hindenburg”) published a report about Singularity entitled “Singularity Future Technology: This Nasdaq-Listed Company’s CEO Is A Fugitive, On The Run For Allegedly Operating A Massive Ponzi Scheme.” The Hindenburg report alleged, among other things, that “Singularity’s CEO, Yang Jie, is a fugitive on the run from Chinese authorities for running an alleged $300 million Ponzi scheme that lured in over 20,000 victims” and “fled to the U.S. while at least 28 other individuals involved in the case were sentenced to prison terms ranging from 6 months to 15 years.” The Hindenburg report further alleged that “Singularity’s massive [cryptocurrency] mining rig deal appears to be a brazen undisclosed related party deal”…
