Clean Coal Technologies Receives SEC Complaint Regarding Previous Management
NEW YORK, NY -- (Marketwire) -- 06/05/12 -- Clean Coal Technologies, Inc. (OTCQB: CCTC) (PINKSHEETS: CCTC), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning fuel, has been named in a civil complaint filed by the Securities and Exchange Commission following an investigation regarding a former Clean Coal executive.
In a June 4, 2012 civil complaint, the SEC charged former Clean Coal CEO and President Douglas Hague with involvement in two stock kickback schemes in the summer of 2009. Although Clean Coal also was charged in the civil complaint, Mr. Hague has not been employed by Clean Coal since April 2011 and none of the current executive management team served under Mr. Hague in 2009. Mr. Hague also has been charged in a criminal conspiracy to commit securities fraud in that time period.
"Clean Coal Technologies is fully supportive of the government's desire to clean-up a part of the publicly traded market," stated Robin Eves, Director, President and CEO of Clean Coal Technologies, Inc. "We intend to provide the investigatory agencies with any relevant information requested. It is our commitment to maintain strong corporate governance and transparency."
About Clean Coal Technologies, Inc.
Clean Coal Technologies, Inc., a cleaner-energy technology company with headquarters in New York City, NY, holds patented process technology and other intellectual property that converts raw coal into a cleaner burning fuel. The Company's trademarked end products, "PRISTINE™" coals, are significantly more efficient, less polluting, more cost-effective, and provide more heat than untreated coal. The principal elements of the Company's pre combustion technology are based on well-proven science and tried-and-tested industrial components. The Company's clean coal technology may reduce some 90% of chemical pollutants from coal, including Sulfur and Mercury, thereby resolving emissions issues affecting coal-fired power plants.
For more information about Clean Coal Technologies please visit: www.cleancoaltechnologiesinc.com
In addition to historical information, this press release may contain forward-looking statements that reflect the Company's current expectations and projections about future results, performance, prospects and opportunities. These forward-looking statements are based on information currently available to us and are subject to a number of risks, uncertainties and other factors that may cause actual results, performance, prospects or opportunities to be materially different from those expressed in, or implied by, such forward looking statements. You should not place undue reliance on any forward-looking statements. Except as required by federal securities law, the Company assumes no obligation to update publicly or to revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available, new events occur or circumstances change in the future.
Company Contact: Clean Coal Technologies, Inc. Mr. Robin Eves Director, President & CEO 646-710-3549 Email Contact Financial Communications Contact: Trilogy Capital Partners Darren Minton President 212-521-4405 Email Contact
Source: Clean Coal Technologies, Inc.
Released June 5, 2012