DOJ CLEU Remission

From November 2024 to February 2025, individuals engaged in misleading promotion and coordinated trading of shares of China Liberal Education Holdings, Ltd. (CLEU), a company incorporated in the Cayman Islands that purported to provide educational services in China. The scheme, known as a “pump-and-dump” or “ramp-and-dump,” involved individuals in China posing as U.S.-based investment advisors on social media and messaging platforms and falsely promising significant returns from investments in the company. The misleading promotion and coordinated trading caused the NASDAQ stock price to artificially rise, at which point the individuals sold thousands of shares and made millions of dollars in profits. The stock price dropped dramatically on January 30, 2025, at the expense of other investors, some of whom lost almost the entirety of their investment. 

Seven individuals were charged with wire fraud in United States v. Lim Xiang Jie Cedric, et al., Case No. 1:25-cr-00161 (N.D. Ill.). The United States pursued a parallel civil forfeiture of approximately $214 million in seized proceeds from the CLEU scheme and obtained a default judgment, forfeiting the assets to the United States. See United States v. Funds in the Amount of $19,901,190.42 et al., Case No. 1:25-cv-02965 (N.D. Ill.).

To be considered a potential Petitioner in the DOJ CLEU Remission, you must complete and sign a petition for remission either in paper format or through the online submission form available on this website. You must mail, email, or submit online your completed and signed petition for remission, along with supporting documentation, by July 31, 2026.

You will never be asked to pay money to participate in the remission process. Please do not send money to Kroll or any persons claiming to represent the United States Government. Kroll is the only Remission Administrator affiliated with this case.