asensio.com has researched a series of publicly traded companies that have been allowed to register shares of their common stock to traded on the U.S. stock exchanges but whose purported operations are based almost solely in China. asensio.com’s research has exposed serious regulatory deficiencies including the U. S. Securities & Exchange Commission’s oversight of small U.S. based audit firms that have been allowed to certify these companies’ financial representations to U.S. investors.
In order to better serve investors asensio.com today created a section where it will post article concerning Chinese stock frauds. This section will be in addition to the section devoted to showing conflicts of interest in the NASDAQ and FINRA’s oversight of listing standards for Chinese firms.
Our first posting is a story from CNN that shows how Chinese companies “rent” white people to pose as executives or clients in front of other parties.