http://news.asiaone.com/print/news/singapore/woman-behind-troubled-us-investment-scheme-speaks
Woman behind troubled US investment scheme speaks up
Tuesday, February 17, 2015 – 07:30
Judith Tan, The New Paper
About 300 investors in Singapore pumped US$11 million (S$14.9 million) into CTL Global’s plan to buy up distressed houses in the US. The New Paper on Sunday found out after contacting Ms Clara Tan, the company’s founder. Continue reading
Gordon G. ChangContributor
WORLD AFFAIRS 2/15/2015 @ 12:20PM 20,219 views
Jack Ma Says Alibaba At ‘Most Critical Moment’ As China Starts New Investigation
After authorities accused Alibaba of allowing illegal actions on its shopping platform, Jack Ma said he does not want the site to be seen as a hub for fake products. (AFP PHOTO)
On Friday, China’s powerful National Development and Reform Commissionannounced it was probing e-commerce businesses to ensure a “fair” market. The NDRC said it would “organize and develop special inspections into the online retail sector’s pricing behavior,” especially the practice of inflating prices before reducing them in special offers. The agency also stated it will investigate holiday pricing. Although the state regulator did not name targets, news organizations fingered Alibaba Group Holding, the giant founded by Jack Ma, and JD.com. Of the two, Alibaba, due to its business model, appears to be the focus of the probe. The references to fake special offers and pricing around holidays put Singles’ Day, Alibaba’s November 11 extravaganza, into the crosshairs. Merchants selling on Alibaba’s platforms are widely known to engage in deceptive pricing practices, particularly around that day. Continue reading
Kaisa Discloses Much Higher Debt Burden
Troubled Chinese Developer Pushes Foreign Bond Investors to Cut a Deal
ESTHER FUNG
Updated Feb. 16, 2015 7:44 a.m. ET
SHANGHAI—Troubled Chinese property developer Kaisa Group Holdings Ltd. told foreign bond investors Monday that it faces a US$10.4 billion debt load—more than double the amount it previously disclosed—and pressed them to cut a deal to avert a blow to its operations.
The disclosure is likely to increase investor fears over Chinese property developers and their potential exposure to nontraditional debt that may be held off their balance sheets. It also renews questions about Kaisa’s fate just a week after it struck a 4.55 billion Hong Kong-dollar (US$587 million) deal with another property developer that appeared to address many of its problems. Continue reading
Leighton covered up project blowouts, claims executive
February 17, 2015 – 12:15AM
Nick McKenzie, Richard Baker, Jenny Wiggins
Giant Australian construction firm Leighton Holdings faces courtroom accusations it concealed a financial black-hole worth up to $4 billion from shareholders, potentially breaching continuous disclosure laws. Continue reading
http://www.valuewalk.com/2015/02/moazzam-malik
Fraudulent Hedge Fund Manager Moazzam Malik Fakes Own Death
Posted By: Clayton BrownePosted date: February 16, 2015 08:30:53 AMIn: BusinessNo Comments
The Securities and Exchange Commission announced on Friday, February 13th that it had charged Moazzam “Mark” Malik with falsely claiming to operate a hedge fund with approximately $100 million in assets under management, and soliciting investors with promises of consistently high returns. The SEC notes that Malik manged to con $840,774 out of investors, but his so-called fund never made any real investments. Moreover, the supposed investment accounts never held more than $90,177 in assets as Malik regularly withdrew cash from the account to spend on himself. Continue reading
Posted by Lin Liye, Year 4 undergrad at the School of Economics, Singapore Management University
http://blogs.wsj.com/moneybeat/2014/06/11/ozner-water-becomes-an-oddity-in-hong-kong-ipo-market/
Posted by Lin Liye, Year 4 undergrad at the School of Economics, Singapore Management University
Ozner Water Becomes an Oddity in Hong Kong IPO Market
For the first time since a state-owned auction house raised US$380 million in its February initial public offering, a Hong Kong listing candidate has managed to price its deal at the top end of an indicative range. Continue reading
Posted by Nureen CHAN Wan Wei , Year 4 undergrad at the School of Accountancy, Singapore Management University
Last November, Francine McKenna reported in Forbes magazine how a stretched Securities & Exchange Commission, embarrassed at having missed Bernie Madoff’s $65 billion Ponzi scheme, had “reorganized its enforcement division, eliminating an accounting-fraud task force and adding new units to pursue crooked investment advisors and asset managers, market manipulations and violations of the Foreign Corrupt Practices Act.” Forbes wondered whether the SEC might end up overlooking the next Enron. Turns out, we weren’t the only ones worried. In April, former federal prosecutor Mary Jo White was sworn in as chairman of the SEC and quickly made clear there would be a renewed emphasis at the agency on detecting and punishing accounting shenanigans. In July, the agency announced formation of a new Financial Reporting and Audit Task Force which would, among other things, be using a new Accounting Quality Model (a.k.a. RoboCop). Continue reading
http://www.businessinsider.sg/carson-block-muddy-waters-presentation-2014-9/#.VOIEYNH9kdW
Posted by Latha Do NADARAJAN , Year 3 undergrad at the School of Accountancy, Singapore Management University
Muddy Waters Research CEO/founder Carson Block spoke to accounting students at Baruch College on Wednesday afternoon about short-selling.
Block is famous for targeting Chinese companies he believes are frauds. Continue reading
Posted by Latha Do NADARAJAN , Year 3 undergrad at the School of Accountancy, Singapore Management University
Shares of 21Vianet were down as much as 30% on Wednesday after independent research firm Trinity Research Group published a dizzying 121-page report calling the company a Ponzi scheme.
The $1.2 billion company has recovered some of its market value in late-morning trading.
Trinity says it conducted, “a six-month investigation of 21 Vianet Group with an expanded team of local accountants, lawyers, telecom and Internet industry executives/insiders and VNET customers, partners and former employees.” Continue reading
AsianExtractor: Unearthing Accounting Fraud in Asia 