"DEER" In Headlights: Latest Alleged Chinese Reverse-Merger Fraud

Tyler Durden's picture

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SilverRhino's picture

And this is the country that thinks it can vie for world reserve currency status.  

I'll say this.  The Chinese may have little dicks but they appear to have brass balls and some serious chutzpah. 

DavidC's picture

Little they may be (and I can't and don't want to verify one way or the other!) but it hasn't stopped their population growing to over 1.3 billion people. Meanwhile in the West, sperm counts are falling.

Those Chinese aren't stupid!

DavidC

reader2010's picture

with daily dose of plastic rice and fake milk, their sperm counts have already peaked. 

DavidC's picture

Touché reader2010,
You could well be right!

DavidC

fx's picture

ZH  has, it seems, become an advertising board for all sorts of wannabe experts on supposedly fraudulent Chinese companies. Apart from the RINO-scam the allegations against CAGC, CCME, ONP... so far have turned out to be fabricated garbage with no merits and substance whatsoever. In case of CCME it seems that documents were manipulated and counterfeited to the hilt. I don't know why ZH is offering these clowns a plattform - thereby jeopardizing its own credibility.

gwar5's picture

A 21st century Chinese fire drill

SpeakerFTD's picture

Their sales pitch to U.S. investors:

Oh, you buy from me, I give you very good deer.

Cognitive Dissonance's picture

Oh shit. I thought that was John Deere when I bought it.

http://www.deere.com/en_US/deerecom/usa_canada.html

/sarc

Mercury's picture

Yuan Deer

or

Yuan Deer cost me Yuan Dear

(cue Rocky & Bullwinkle theme)

Whats that smell's picture

When I worked on PC's a few years ago some had "Deer"

brand power supplies, they were total crap.

Mercury's picture

Let's see....empty cities, empty high speed rail cars, empty companies.... (empty FNSR purchase order forms).

Not as much there there as one might be led to believe given all those busy looking people and factories and all the huzzahs from the Western Central Planning Fan Club.

jmc8888's picture

You mean the numbers aren't guidelines in America?

Oh yeah, if you're not a TBTF or something measured by the B(L)S.

Silly Chinese, you need the scam to be OUTSIDE the purview of the law.

Glass-Steagall

Logans_Run's picture

This is just a replay of the old Vancouver Stock Exchange from the pre-tech bubble of the 90s. The joke used to be that the exchange was the largest insider trading fraud in the world. Simply, NASDAQ saw an opportunity for fees and jumped on the bandwagon. As a CPA I am amazed that any of the regional public accounting firms that jumped into audit these Chinese business frauds decided to do so. It will be short-term gain followed by long-term pain as investigations will prove that audit procedures were slip-shod and cursory. I for one would never risk my license on the Chinese pervasive culture of fraud.

karzai_luver's picture

Yeah, they are old hands at fraud and wild gambling.

They are some gambling fraudy monkeys.

 

They have had thousands of years to perfect their scams.

We are just rookies at their game.

You have to wonder at that, we maybe just rookies at their game!

 

fajensen's picture

It is normal in China to run several ledgers. One for tax puposes, one for running the business and now one for foreign investors. It is also normal that the bribes one pays to get away with this system is about the same as would be paid in taxes if everything is done according to the law. 

Me, I would not worry about my license; there will in be no investigation because of the "loss of face" *as long as* it is only gweiloo that are fucked over! Cheat the Chinese and yuor organs turn up on Ebay.

NumberNone's picture

DEER just hit high of day.  Someone must have heard there was an analyst statement and they couldn't wait to beat the crowd to buy it. 

billwilson's picture

The Chinese investor said "Why would you ever buy shares without inside information" after I had explained to him Western rules on insider trading.

 

Pretty much encapsulates the "rule of law" approach in China - where "free markets" (unregulated) run wild.

william the bastard's picture

I would buy DEER if it's caught in the headlights of this. They market an excellent line of rice cookers and rice cookers are the single greatest invention since the surf leash.

brusty4's picture

And yet the stock jumped higher on the news.

bugs_'s picture

Its supposed to be year of the rabbit not deer.  There isn't a year of the RINO is there?

UninterestedObserver's picture

Yeah earnings out tomorrow - shorting here is as big a gamble as buying