Author Topic: Phantom $4 Billion Joins Accounting ‘Land Mines’ Shaking Chinese Market  (Read 303 times)

LongHaul

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Interesting article on overstated cash balances.  I have heard of situations in China where bank managers and auditors were bribed to change cash or overlook incorrect amounts. 

https://www.wsj.com/articles/phantom-4-billion-joins-accounting-land-mines-shaking-chinese-market-11558352421
Forensic Accounting Consulting on public companies. Private Message me if interested.  This can be a good way to avoid blowups.


SharperDingaan

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Always keep in the back of your head, that you're dealing with the tongs/triads.
You might be able to do a short, but you're not getting your profit out.

SD