Understanding China, One Blog at a Time

An American in China

401k Fraud Watch- Another Chinese Company Investigated in teh US Stock Market

Posted by w_thames_the_d on May 2, 2011

If you are from civiliation and want to retire, then you may want to check your portfolio. Many chinese companies are listed in the usa, and if you are investing in them and are defrauded then I have no sypathy for you. Take a look around, do some investigating or come over here if possible, hell I will let you stay with me a few days. Take a look at the business practices of this country and wake up..
This blurb is about a Chinese company allededgly cooking the books or lokking to steal money from Americans.

from here
“US Securities and Exchange Commission (SEC) sued Dallas-based China Voice Holding Corp on April 29 over an alleged Ponzi scheme.

SEC said that China Voice former CEO William Burbank, 52, former CFO David Allen, 60, and others fraudulently overstated the company’s financial condition and business activity in China.

“Since at least 2006, China Voice, Allen, Burbank and others have made false and misleading public statements about China Voice, to maintain the facade of a prosperous company, while masking the unjust enrichment of the principals,” the complaint filed in the US district court in Dallas said.”

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