Tuesday, May 22, 2012

It Is Official - Sino-Forest is a Fraud

Big surprise.

The Ontario Securities Commission has accused Sino-Forest Corp. and five of its former executives of fraud, saying they engaged in a “complex” scheme to inflate the assets and revenue of the forestry company.
The commission said company founder and former chief executive Allen Chan worked with Albert Ip, Alfred Hung, George Ho and Simon Yeung to make “materially misleading statements in Sino-Forest’s public disclosure record related to its primary business.”
The five men are also accused of misleading OSC staff during their investigation.

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