China seems to be beating America at its own game: Stock fraud.
Watch ABC News tonight for a report on the billions of dollars Americans are losing after investing in Chinese companies with accounting problems on par with Enron. Click here for a story it has already posted on it’s website.
ABC News calls it “one of the largest sprees of alleged financial crimes in recent memory — one that has gone largely unnoticed by most Americans.
“More than 100 China-based companies have now been de-listed, have left the NASDAQ and New York stock exchanges, have been denied listing, or have withdrawn applications, all following allegations of fraud or accounting irregularities, the ABC News investigation found.”