Clean Coal Technologies, Inc. (OTCQB: CCTC) (PINK: CCTC) (“Clean Coal”), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning and more efficient fuel, today announced that it has reached a settlement in a case filed by the Securities and Exchange Commission (“SEC”) on June 4, 2012 in the United States District Court for the Southern District of Florida against Clean Coal and its former CEO and president, Douglas Hague, alleging involvement by Mr. Hague in two fraudulent transactions of restricted stock in 2009 during his time as CEO and president of Clean Coal. Under the terms agreed to by Clean Coal and the SEC, Clean Coal, without admitting or denying liability, would pay a civil penalty of $25,000 and would be permanently enjoined from violating certain securities laws. The settlement remains subject to approval by the United States District Court for the Southern District of Florida, which must approve its terms and enter the final judgment.
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.
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