Phantom $4 Billion Joins Accounting ‘Land Mines’ Shaking Chinese Market

[LongHaul]

Interesting article on overstated cash balances.  I have heard of situations in China where bank managers and auditors were bribed to change cash or overlook incorrect amounts. 

 

https://www.wsj.com/articles/phantom-4-billion-joins-accounting-land-mines-shaking-chinese-market-11558352421

[SharperDingaan]

Always keep in the back of your head, that you're dealing with the tongs/triads.

You might be able to do a short, but you're not getting your profit out.

 

SD