Regulators target Atlanta online shopping marketer Zhunrize

The U.S. Securities and Exchange Commission said Zhunrize Inc., an Atlanta-based business that sells online stores to members who then sell company-provided products on those sites, has been ordered to halt operations after the agency accused the company of a global pyramid scheme that allegedly has raised more than $100 million.

Efforts were being made to reach Zhunrize and Chief Executive Officer Jeff Pan for comment. Pan also is named in an SEC complaint filed in U.S. District Court in Atlanta this week.

The SEC said the court has issued a temporary restraining order against Zhunrize, and the company’s assets have been ordered frozen.

Read more about this story on MyAJC.com/business, which is available to premium subscribers.

About the Author

Christopher Seward

Delta settles DOJ lawsuit alleging violations of COVID-19 relief rules

The company paid $8.1 million to settle the suit, which alleged it paid executives more than the rules allowed. Delta accepted nearly $12 billion in federal relief funds.

1h ago

PSC OKs energy plan for Georgia Power, locking in reliance on fossil fuels

Fossil fuels will continue to supply much of Georgia Power’s electricity after state regulators approved a long-range energy plan driven mostly by the needs of data centers.

1h ago

The CBS split from Atlanta News First could preview other big TV changes

TV station owners are having to adapt as viewing habits change and viewership declines.

The Latest

Credit: Special

What do you get with a $200,000+ luxury SUV? The options are endless.

As Fulton eyes property tax increase, critics say commercial values too low

California upgraded its film incentive program. How will this affect Georgia?

Featured

Credit: Jason Getz/AJC

Bright lights, big stage: Atlanta readies for the All-Star Game spotlight

The Braves, Truist Park and The Battery Atlanta have been preparing for the MLB All-Star Game for years, and all will be the epicenter of the baseball world Tuesday night.

The CBS split from Atlanta News First could preview other big TV changes

TV station owners are having to adapt as viewing habits change and viewership declines.

Grayson High’s Tyler Atkinson, No. 1 prospect in Georgia, commits to Texas

Grayson High’s Tyler Atkinson, the top-ranked linebacker in the nation, has committed to Texas, turning down UGA’s long-standing pursuit.

1h ago