China Natural Gas Ex-CEO Charged

The U.S. Securities and Exchange Commission charged China Natural Gas Inc. and its former chief executive, Qinan Ji, for secretly loaning company funds to benefit his son and nephew and failing to disclose the true nature of the loans.

The SEC alleges Mr. Ji, who remains chairman of the China-based company, coordinated two short-term loans totaling more than $14 million in January 2010.