Red Ponzi Wobbling: Fake Cash & Fake Accounting: Chinese Regulators Suddenly Halt 46 IPOs and Bond Offerings

In total, regulators suspended 46 IPOs and bond offerings, based on filings made at the Shanghai and Shenzhen stock exchanges, including Shanghai’s Star Market, as of Monday, according to the South China Morning Post. The reason: these companies had chosen Ruihua Certified Public Accountants as their auditors......Ruihua, the second largest audit firm in China, has been embroiled in scandals involving large amounts of fake data, including fake cash, on its clients’ books.

 

 

 

 

 

 

 

https://wolfstreet.com/2019/07/29/spooked-by-fake-accounting-fake-cash-chinese-regulators-suddenly-halt-46-ipos-and-bond-offerings/

 

 

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