Global List Of Chinese Stock Frauds

The Chinese stock frauds are not exclusive to the United States. They have been happening in Singapore, Hong Kong, United Kingdom and Germany. Stock frauds committed by the Chinese are not recent either. They have been ongoing since the 1990's. In this post, you will find non-exhaustive lists of Chinese stock frauds committed worldwide as well as a table comparing such frauds. It will help you visualize the global extent of the Chinese stock frauds. At the end of the post, there is a small list of stock frauds perpetrated against foreigners by Chinese over a decade ago.

By the way, there is a lingering misconception that all Chinese fraudsters managed to have access to American capital markets thanks to reverse takeovers. This is not the case for all of them. Some of them did initial public offerings of shares in offshore companies. If you want to learn more about how the fraudulent Chinese companies were legally structured, you can go here.

Hopefully, this massive swindle will soon come to an end.

Global Comparison of Common Characteristics of China Stock Frauds

Investment Market: United States Singapore Hong Kong United Kingdom
Affected Investable Set: China Concepts Stock
Affected Investable Subset: N share S chip P chip L share
Country of Operations: China
Place of Incorporation: Cayman Islands, Bermuda, British Virgin Islands, Delaware, Nevada, Florida, Jersey
Citizenship of Managers: Chinese
Citizenship of Promoters: American Singaporean, Malaysian Hong Kongers British
Auditors for Chinese subsidiaries: Local Chinese audit firms
Auditors for listed company: Big Four and Top 10 (45%), Top 100 and Unrated (55%)
Bankers for Chinese subsidiaries: Agricultural Bank of China, Bank of Communications, Xiamen International Bank,
Guangdong Development Bank, China Zheshang Bank, Daqing City Commercial Bank,
and other banks owned by local governments.


List of Chinese Stock Frauds in Singapore
This list includes name of company, stock symbol, and place of incorporation.
Beauty China Holdings Limited (SGX:B15) (Cayman Islands)
Celestial NutriFoods Limited (SGX:C56) (Bermuda)
China Aviation Oil (SGX: C47) (Singapore)
China EnerSave (SGX: 531) (Singapore)
China Fibretech Ltd. (SGX: F6D) (Bermuda)
China Hongxing Sports Limited (SGX: BR9) (Bermuda)
China Milk Products Group Limited (SGX:G86) (Cayman Islands)
China Printing & Dyeing Holding Limited (SGX: M67) (Singapore)
China Sports International Limited (SGX: FQ8) (Bermuda)
China Sun Bio-Chem (SGX: C86) (Cayman Islands)
China XLX (SGX: B9R) (Singapore)
China Zaino International Ltd. (SGX: FP1) (Bermuda)
Falmac Limited (SGX:559) (Singapore)
FerroChina Ltd. (SGX: F33) (Bermuda)
Fibrechem Technologies Limited (SGX: F12) (Bermuda)
Hongwei Technologies Limited (SGX:H80) (Bermuda)
KXD Digital Entertainment Limited (SGX:K07) (Singapore)
New Lakeside Holdings Limited (SGX:5EG) (Singapore)
Oriental Century (SGX: 5II) (Singapore)
Sino Techfibre (SGX: AD8) (Bermuda)
Sino-Environment Technology Group Ltd. (SGX: Y62) (Singapore)
Zhongguo Jilong Limited (SGX: Z03) (Singapore)
Zhonghui Holdings Ltd. (SGX: Z04) (Singapore)

List of Chinese Stock Frauds in Hong Kong
This list includes name of company, stock symbol, and place of incorporation. 
A - S China Plumbing Products Ltd. (SEHK: 8262) (Cayman Islands)
ABC Communications (Holdings) Ltd. (SEHK: 30) (Bermuda)
Asia Aluminum (SEHK: 930) (Bermuda)
Automated Systems Holdings Ltd. (SEHK: 771) (Bermuda)
Bep International (SEHK: 2326) (Bermuda)
CIL Holdings Ltd. (SEHK: 479) (Bermuda)
China Information Technology Development Ltd. (SEHK: 8178) (Cayman Islands)
China Jin Hui Mining Corporation Ltd. (SEHK: 462) (Cayman Islands)
China Medical and Bio Science Ltd. (SEHK: 8120) (Cayman Islands)
China Nickel Resources Holdings Co. Ltd. (SEHK: 2889) (Cayman Islands)
China Packaging Group Co. Ltd. (SEHK: 572) (Cayman Islands)
China Post E-Commerce (Holdings) Ltd. (SEHK: 8041) (Cayman Islands)
China Star Film Group Ltd. (SEHK: 8172) (Bermuda)
China Trends Holdings Ltd. (SEHK: 8171) (Cayman Islands)
Climax International Co. Ltd. (SEHK: 439) (Bermuda)
EganaGoldpfeil (Holdings) Ltd. (SEHK: 48) (Cayman Islands)
Extrawell Pharmaceutical Holdings Ltd. (SEHK: 858) (Bermuda)
First Natural Foods (SEHK: 1076) (Bermuda)
Fu Ji Food and Catering (SEHK: 1175) (Cayman Islands)
Grand Field Group Holdings Ltd. (SEHK: 115) (Bermuda)
Hong Kong Resources Holdings Co. Ltd. (SEHK: 2882) (Bermuda)
Info Communication Holdings Ltd. (SEHK: 8082) (Cayman Islands)
Jackin International Holdings Ltd. (SEHK: 630) (Bermuda)
Kith Holdings Ltd. (SEHK: 1201) (Bermuda)
M Dream Inworld Ltd. (SEHK: 8100) (Cayman Islands)
Mitsumaru East Kit (Holdings) Ltd. (SEHK: 2358) (Cayman Islands)
Nam Fong International Holdings Ltd. (SEHK: 1176) (Bermuda)
Nam Hing Holdings Ltd. (SEHK: 986) (Bermuda)
New City (China) Development Ltd. (SEHK: 456) (Cayman Islands)
Ngai Lik Industrial Holdings Ltd. (SEHK: 332) (Bermuda)
Ocean Grand Holdings Ltd. (SEHK: 1220) (Bermuda)
Pan Asia Mining Ltd. (SEHK: 8173) (Cayman Islands)
Pan Sino International Holding Ltd. (SEHK: 502) (Cayman Islands)
Peace Mark (SEHK: 304) (Bermuda)
Peaktop International Holdings Ltd. (SEHK: 925) (Bermuda)
Prosten Technology Holdings Ltd. (SEHK: 8026) (Cayman Islands)
QPL International Holdings Ltd. (SEHK: 243) (Bermuda)
Rojam Entertainment Holdings Ltd. (SEHK: 8075) (Cayman Islands)
SMI Publishing Group Ltd. (SEHK: 8010) (Cayman Islands)
Smart Union (SEHK: 2700) (Cayman Islands)
Tack Fat (SEHK: 928) (Cayman Islands)
U-right International (SEHK: 627) (Bermuda)
Wai Chun Group Holdings Ltd. (SEHK: 1013) (Bermuda)
Warderly International Holdings Ltd. (SEHK: 607) (Cayman Islands)

List of Chinese Stock Frauds in the United States and Canada
This list includes name of company, stock symbol, and place of incorporation.
A-Power Energy (APWR) (British Virgin Islands)
Advanced Battery Technology (ABAT) (Delaware)
Agfeed Industries (FEED) (Nevada)
American Oriental Bioengineering (AOBI) (Colorado)
AutoChina International (AUTCF) (Cayman Islands)
China Agritech (CAGC) (Delaware)
China Century Dragon Media (CCDM) (Delaware)
China Direct Industries (CDII) (Florida)
China Education Alliance (CEAI) (North Carolina)
China Electric Motors (CELM) (Delaware)
China Energy Savings Technology (CESV) (Nevada)
China Infrastructure Investment (CIIC) (Nevada)
China Integrated Energy (CBEH) (Delaware)
China Intelligent Lighting (CILE) (Delaware)
China MediaExpress (CCME) (Delaware)
China Natural Gas (CHNG) (Delaware)
China North East Petroleum (CNEP) (Nevada)
China Nutrifruit (CNGL) (Nevada)
China Ritar Power (CRTP) (Utah)
China Shenghuo Pharmaceutical (CKUN) (Delaware)
China Sky One Medical (CSKI) (Nevada)
China Valves Technology (CVVT) (Nevada)
China Water & Drinks (HEK) (Nevada)
China-Biotics (CHBT) (Delaware)
ChinaCast Education (CAST) (Delaware)
Deer Consumer Products (DEER) (Nevada)
Duoyuan Global Water (DGWIY) (British Virgin Islands)
Duoyuan Printing (DYNP) (Wyoming)
Fuqi International (FUQI) (Delaware)
HQ Sustainable Maritime (HQSM) (Delaware)
Jiangbo Pharmaceuticals (JGBO) (Florida)
Keyuan Petrochemicals (KEYP) (Nevada)
L&L Energy, Inc. (LLEN) (Delaware)
Longtop Financial (LGFTY) (Cayman Islands)
NIVS IntelliMedia Technology (NIVS) (Delaware)
Orient Paper (ONP) (Nevada)
Orsus Xelent Technologies (ORSX) (Delaware)
Puda Coal (PUDA) (Delaware)
Qiao Xing Mobile Communication (QXMCF) (British Virgin Islands)
Qiao Xing Universal Resources (XINGF) (British Virgin Islands)
RINO International (RINO) (Nevada)
Shiner International (BEST) (Nevada)
Sino Clean Energy (SCEI) (Nevada)
Sino-Forest Corp. (TSX: TRE) (Ontario)
SinoTech Energy (CTESY) (Cayman Islands)
Subaye (SBAY) (California)
Universal Travel Group (UTRA) (Nevada)
Wonder Auto Technology (WATG) (Nevada)
Wuhan General Group (WUHN) (Nevada)
Yuhe International (YUII) (Nevada)
ZST Digital Networks (ZSTN) (Delaware)

List of Chinese Stock Frauds in the 1990's
Akai Holdings & Grande Holdings
Euro-Asia Agricultural Holdings & Yang Bin
Shanghai Land Holdings & Zhou Zhengyi


Blogs with Updates on Chinese Stock Frauds:
Celestial NutriFoods Limited
Tibet Pharmaceutical Inc

China Central Television Coverage Of Longwei Petroleum Fraud

Click on image to play video
On Monday, January 28, 2013, China Central Television Channel One (CCTV-1), the largest national Chinese government-run news network, aired a special investigative report titled “Investigation of the Truth Behind Longwei Petrochemical” verifying Geoinvesting's findings on the Longwei Petroleum (LPH) fraud.

Source:  http://vimeo.com/58388563

Hackers In China Attacked The New York Times For Last 4 Months

The timing of the attacks coincided with the reporting for a Times investigation, published online on October 25, that found that the relatives of Wen Jiabao, China's prime minister, had accumulated a fortune worth several billion dollars through business dealings.
Last year, Bloomberg News was targeted by Chinese hackers, and some employees' computers were infected, according to a person with knowledge of the company's internal investigation, after Bloomberg published an article on June 29 about the wealth accumulated by relatives of Xi Jinping, China's vice president at the time. Mr. Xi became general secretary of the Communist Party in November and is expected to become president in March.
Source: http://www.cnbc.com/id/100421708

Hackers Linked To China’s Army Seen From EU To D.C.

During almost two months of monitoring last year, the researchers say they were struck by the sheer scale of the hackers’ work as data bled from one victim after the next: from oilfield services leader Halliburton Co. to Washington law firm Wiley Rein LLP; from a Canadian magistrate involved in a sensitive China extradition case to Kolkata-based tobacco and technology conglomerate ITC Ltd.
“What the general public hears about -- stolen credit card numbers, somebody hacked LinkedIn -- that’s the tip of the iceberg, the unclassified stuff,” said Shawn Henry, former executive assistant director of the FBI in charge of the agency’s cyber division until leaving earlier this year. “I’ve been circling the iceberg in a submarine. This is the biggest vacuuming up of U.S. proprietary data that we’ve ever seen. It’s a machine.”
Source: http://www.bloomberg.com/news/2012-07-26/china-hackers-hit-eu-point-man-and-d-c-with-byzantine-candor.html

Americans Lose Billions In Chinese Investment Frauds

Click on image to play video
Beginning in 2008, the NYSE & NASDAQ began to aggressively recruit Chinese firms to list on their exchanges. According to ABC, the exchanges did a poor job in verifying the financial health of the Chinese firms. SEC Chairman Mary Schapiro agreed they were "not as rigorous as they could have been." The SEC is focused on the liability of the "gatekeepers," the American auditing firms and middle men who helped bring these companies to market. Ultimately the biggest losers were pension funds and individual investors. Dan David of GeoInvesting believes the scandal could ultimately cost investors hundreds of billions of dollars. NASDAQ declined to speak to ABC as did General Wesley Clark, former chairman of Rodman and Renshaw, the American investment bank that raised the most money for fraudulent Chinese companies, such as China Integrated Energy. Jon Carnes conducted 4 months of video surveillance of China Integrated Energy and concluded that the company was essentially producing nothing. The factory only came to life during an investor tour hosted by Rodman and Renshaw. Mary Schapiro agrees that the the common theme seen by regulators is the brazenness of the fraud.

Source: http://vimeo.com/57243175

No Global Warming For Almost Two Decades

The Science and Public Policy Institute has been asked to comment on the apparent inconsistency between the news that July 2012 was the warmest July since 1895 in the contiguous United States and the news that the Meteorological Office in the UK has cut its global warming forecast for the coming years. The present paper is a response to that interesting question.

Source: http://scienceandpublicpolicy.org/originals/no_global_warming_for_almost_two_decades.html

Caterpillar Was Embezzled In China

Caterpillar Inc uncovered "deliberate, multi-year, coordinated accounting misconduct" at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of the deal and wiping out more than half its expected earnings for the fourth quarter of 2012.
Caterpillar closed the purchase of ERA Mining Machinery Ltd and its subsidiary Siwei, China's fourth-largest maker of hydraulic roof supports, last June, paying HK$5.06 billion, or $653.4 million. ERA had been publicly traded in Hong Kong, doing business through Siwei, which is known for making equipment to support roofs in mines.
Source: http://www.reuters.com/article/2013/01/19/us-caterpillar-siwei-idUSBRE90H1C520130119

Global Banks Get Conned By The Chinese State

Five years after China said it fully met World Trade Organization obligations to open its economy to global financial firms, Citigroup Inc. and HSBC Holdings Plc are among companies still largely shut out of the world’s third-biggest banking market as they face government restrictions on adding branches and offering products.
Source: http://www.bloomberg.com/news/2012-06-04/china-wall-hit-by-global-banks-with-2-market-share.html

Jim Rogers Gets Duped In Singapore

China cheerleader Jim Rogers decided to put his mouth where his money is and went to the dentist in Singapore for a cosmetic treatment. Less than one year later, his dental ceramics fell off his teeth. After an initial request for reimbursement was rejected by his dentist, Ernest Rex Tan, Rogers sued him for at least $48,150. Tan counter-sued him for defamation.

Rogers seems to be surprised about the lack of professional integrity he has experienced in Singapore. After all, he moved there because he believes the future progress of mankind is going to happen in China and its colonies. Hence, he won't be going back to the United States. However, if he continues to trust the Chinese, he won't go back to the US due to a personal choice, but because he will have no money left after being scammed out of all of it. Ultimately, the corruption of the Chinese nation is not cultural, but genetic. That is, the Chinese nation is genetically corrupted and it gets reflected in its culture.

Source: http://www.businessinsider.com/report-jim-rogers-sues-a-cosmetic-dentistry-for-negligence-2012-6