Two former executives at HF Foods Group have agreed to a settlement with the Securities and Exchange Commission amid allegations they misappropriated numerous investor funds and misled the company’s auditors.

Zhou Min Ni, who served as the CEO or Co-CEO of HF Foods from 1997 until February 2021, and Jian Ming “Jonathan” Ni, who served as the chief financial officer from 2015 to 2019, agreed to the settlement without admitting or denying the allegations of the SEC’s securities fraud complaint, the SEC announced this week.