Sino-Forest fraud

Sino-Forest reviewing Canadian regulator's fraud allegations

Canadian securities regulators push for sanctions against Chinese forestry company Sino-Forest and its senior management.
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Sino-Forest is accused of overstating its timber holdings
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<div style="text-align: left;"> Sino-Forest is accused of overstating its timber holdings </div>

Sino-Forest said in a press release last night that it is reviewing allegations by the Ontario Securities Commission (OSC) that it engaged in widespread fraud dating back to at least 2006

On Tuesday, Canadian regulators accused the company and several of its former executives — Allen Chan, Albert Ip, Alfred Hung, George Ho and Simon Yeung — of conducting “a complex fraudulent scheme to inflate the assets and revenue of Sino-Forest and made materially misleading statements in Sino-Forest’s public disclosure record related to its primary business”

The OSC is considering whether it would be in the public interest to permanently halt the trading of Sino-Forest shares, impose an administrative penalty of...

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