(Il Sole 24 Ore Radiocor) – New York, 05 September – The Securities and Exchange Commission, the American Consob, has accused the Chinese pharmaceutical company China Sky One Medical of fraud for having "inflated" profit data. As reported by the Wall Street Journal, that of the SEC is a rare action and comes two years after the first doubts emerged on the documentation presented by small Chinese companies. As stated on the SEC website, Sky One Medical (listed on the Nasdaq in 2006) allegedly created data on non-existent exports for 19.8 billion dollars between 2007 and 2008. From 2010 onwards, recalls the daily, dozens of small companies listed on Wall Street have been accused, including by auditors, of having lied to investors about the size of their businesses.
A24
(RADIOCOR) 05-09-12 17:03:35 (0297) 5 NNNN
