Sino-Forest report raises new questionsFriday 25 Nov 2011 In last week’s Offcuts we ran a story that’s been unfolding for some time. The media reported last week that after five months of investigation, a committee (consisting of a group of Chinese timber producer Sino-Forest Corp. Directors) set up to look at the company had said that it found no evidence of fraud and rejected the allegations by a short-seller that sent its shares down 75%.Several of our Canadian readers pointed out that once you dig a little deeper that there are still some very serious problems around Sino-Forest Corp. and the allegations. The RCMP (Canada’s national police force) has launched a criminal investigation into whether executives of Sino-Forest Corp. defrauded Canadian investors who pumped billions into the Chinese timber producer and its shares are still frozen by the Ontario Securities commission. For more information on this story, check out the two links below from Canada‘s largest national newspaper. Sino-Forest Corp Story 1 Sino-Forest Corp Story 2 |
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