If You Read Chinese, You Should Not Hesitate Shorting FSIN

Read Jin Ri Cai Fu Bao (今日财富报 or Today's Fortune), if you read Chinese, you should not hesitate shorting FSIN after reading it.

http://jrcfb.com.cn/News.aspx?SN=246

In fact, the way FSIN forges its financial statement is so common in China, so many others are using the same means to fool foreign investors, especially those who do not read Chinese. Ashamed.

Read it:
      据几家上当受骗的美国投资人透露，中国警方正在积极介入调查一个十分老练的“金融诈骗学校”有系统地制造虚假中国企业赴美上市的案例。这一诈骗学校通过他们成熟的操作系统教授那些急功近利的中国企业如何伪造销售合同、政府文件、并操纵其财务报表，以达到在美国OTCBB，NASDAQ，AMEX和NYSE上市套钱目的。

Translation:

"According to some American investors who were the victims of the accounting fraud, the Chinese police is actively involved in an investigation of a sophisticated "financial fraud school" which systematically produces the cases that fraudulent Chinese firms got public in the US. This fraud school taught the methods of forging sales documents, government documents and financial statements to some Chinese entrepreneurs who are eager for quick success and instant benefit, in order to make them listed on OTCBB, NASDAQ, AMEX and NYSE to obtain investors' money."


A more important question is: what do they do when they obtained investors' money after getting listed? If you think they'll make business better you are too naive. I already mentioned that they are "eager for quick success and instant benefit", or in Chinese, "急功近利", they highly probably used the money purchasing a luxury house in Australia or Orange County.