3alexd The U.S. Securities and Exchange Commission on Friday said it has settled fraud charges against Ideanomics (OTC:IDEX) and three senior executives for misleading about the company’s financial performance between 2017 and 2019. The SEC said it has settled charges against the company’s former Chairman and CEO, Zheng (Bruno) Wu as well as its current CEO, Alfred Poor, and former CFO, Federico Tovar, for their roles in the fraud. The SEC’s orders allege that in mid-November 2017, Ideanomics and Wu reported 2017 revenue guidance of $300M, despite indication that it would miss this guidance by a wide margin. The company later reported only $144M in 2017 revenues. The SEC order further alleged that Ideanomics and Wu misled the company’s auditor with a \"fraudulent letter of intent from a purportedly interested buyer of certain assets to avoid writing down those assets by $17 million in 2017\". The company, Wu, Poor, and Tovar improperly accounted for a deal involving crypto assets in 2019, according to the SEC. The SEC’s order against Ideanomics found that the company violated the antifraud, reporting, internal control, and books and records provisions of the federal securities laws. \"Without admitting or denying the SEC’s findings, all respondents settled the matter by agreeing to cease and desist from future violations of the charged provisions,\" the SEC added.