Some of our holdings will be:
25% Sino Forest - Chinese forestry plantation that recently caused John Paulson's hedge fund to lose $500 million.
25% Yongue International - Traded at $8 in January and has a price target of $1 due to widespread fraud and false statements to investors:
25% TEPCO - If you're going to commit fraud, you should really do it on a massive scale, like fraudulently certifying your reactors that are built within a tsunami zone, are safe and designed to handle a tsunami.Yongye falsely claims its main fertilizer product, Shengmingsu, was developed by 38 scientists at Stanford University: Absaroka provides a letter from Stanford University certifying it has no connection to Yongye's Shengmingsu fertilizer and Yongye does not have permission to utilize Stanford's name, trademark, or images in its advertising and marketing efforts.
25% Sino Clean Energy - This one is a really great fraud:
Here is a chart of the last 6 months performance of SCEI:Sino Clean Energy (NASDAQ: SCEI) is the most outrageous Chinese fraud to date committed against U.S. investors. SCEI management pre-announced its first quarter 2011 results Tuesday in a press release stating that revenues were $33.7 million. In its 2010 10-K SCEI reported 2010 full year revenues of $106.2 million and adjusted net income of $27.9 million. However, four months of surveillance of SCEI’s three coal water slurry fuel (“CWSF”?) factories clearly show nothing more than backyard-sized money losing operations. Incredibly, in December, SCEI’s fee-hungry investment bankers, Rodman & Renshaw and Axiom Capital Management, raised this scam company $33 million ($29.6 million net proceeds after deducting $3.4 million of investment banking, legal, due diligence and other fees). Did the banksters do any due diligence at all? Simply observing these idle operations proves SCEI is a total fraud, a fact urther confirmed by official tax records. Investors will never recover any money from SCEI and ts shares are worthless.
Down $8206.37 in only 1 day!
