Basically defrauded Chinese investors, they don't mess around when they end up going after CEO's over there. Definetly a little harsher than the treatment Wall Streeters get. Imagine CEO's getting death penalty here for defrauding investors. That would change things :)
That said with regards to OLOU, I believe they may be one of the legit ones and doing things the right way, time will tell, will continue to watch the quarterlies, I think at that .02 bid price definetly keeping my eye on it.