An official with the Securities and Exchange Commission (SEC), Commissioner Luis Aguilar, finally went public about the SEC’s scrutiny of US-listed Chinese companies. News reports about the SEC supposedly conducting a “wide-scale investigation” into Chinese reverse mergers surfaced...

On Friday, March 11th, shares of China MediaExpress Holdings, Inc. (NASDAQ: CCME) were halted. The last trade price was $11.88. On Monday, March 14th, CCME issued a press release stating that its auditor, Deloitte, had resigned, and that Deloitte “was no longer able to rely on the...

For over a month China MediaExpress Holdings, Inc. (NASDAQ: CCME) has been the subject of critical research reports from multiple sources, accusing CCME of outright fraud, some of them with significant evidence from investigations in China. This weekend yet another source presented evidence of...

Research Frontiers Inc. (NASDAQ: REFR) announced on February 7th that its “smart glass” technology will be used in an option available on the Mercedes-Benz SLK model to be released this summer. According to REFR, for about $2,600 purchasers of the SLK can have a “Magic Sky Control”...

1. The Street.com – SEC Probes China Stock Fraud Network – December 21, 2010 2. The New York Times – S.E.C. Lays Down the Law After Abuses in Philadelphia – March 12, 1997 3. Philadelphia Inquirer – Philex Chooses New Yorker As New Chairman – June 25, 1998 4. Asensio.com –...

Today asensio.com released five reports on Chinese reverse mergers. This continues on the research asensio.com began in April 2009 with reports on China Sky One Medical, Inc. (NASDAQ: CSKI) and American Oriental Bioengineering, Inc. (NYSE: AOB), and later reports on the involvement of two...

Shares of China Green Agriculture, Inc. (NYSE: CGA) fell as much as 25% following the release of a research report that accused CGA of significantly overstating revenues and earnings. CGA issued a press release in response to the report stating that CGA is cooperating with an informal...

NASDAQ is seeking to play an activist venture-capital-like role in starting Chinese companies, which would then list on NASDAQ, according to a report by Xinhua. Meyer S. (“Sandy”) Frucher, vice chairman of the NASDAQ OMX Group, reportedly stated that NASDAQ was seeking to “incubate”...

The Securities and Exchange Commission (SEC) has begun a “wide-scale” investigation into Chinese reverse mergers and the networks of accountants, bankers, and lawyers that aid Chinese companies in completing reverse mergers in order to be listed on US exchanges, according to an article in...

SEC and congressional interest in investigating Chinese reverse mergers has been widely reported recently, with a Congressman comparing the Chinese reverse merger industry to a “junior Madoff scandal.” Investors have lost as much as $34 billion on US-listed Chinese companies by some...

Several former officials of the Philadelphia Stock Exchange (PHLX) and their associates have become questionably involved in Chinese reverse mergers arranged by Benjamin Wey, and appear to have a history with Wey arising from a scandal at the PHLX in the 1990s. Wey became infamous after his...

Two Chinese reverse mergers, Tianyin Pharmaceutical Group, Inc. (AMEX: TPI) and JPAK Group, Inc. (OTC: JPAK), will not be able to file 10-Ks on time, according to SEC filings made by both companies on September 28th. By “Chinese reverse mergers” we mean companies with operations...

The SEC is investigating Vision Capital Advisors, according to a Reuters article published September 22nd. Vision Capital is a hedge fund with large investments in Chinese reverse mergers, such as China Integrated Energy, Inc. (NASDAQ: CBEH), according to SEC filings. Reuters suggested that...

asensio.com previously reported that China Sky One Medical, Inc. (NASDAQ: CSKI) was the subject of an SEC investigation. The SEC investigation of CSKI has been ongoing since at least September 2009, when the SEC sent a subpoena to CSKI’s auditor, MSPC; the subpoena was made public as...

Russell Investments dropped China Sky One Medical, Inc. (NASDAQ: CSKI) and other Chinese reverse mergers from its widely-followed Russell 3000 index this year. Other Chinese companies dropped by Russell include American Oriental Bioengineering, Inc. (NYSE: AOB), China Green Agriculture, Inc....

Below are recent articles and reports concerning fraud in China, particularly surrounding US-listed Chinese companies, as well as recent press releases announcing class-action lawsuits or investigations against certain US-listed Chinese companies for suspected violations of securities laws....

On September 7th, shares of China Sky One Medical, Inc. (NASDAQ: CSKI) closed at $6.67, down 31% from the prior day’s close. CSKI put out a press release at the close of the previous trading day, September 3rd, in which CSKI announced significant downward revisions in its 2010 guidance....

On July 15, 2010 Inside Higher Ed published an article titled “Does the Messenger Matter?” The article notes that asensio.com’s founder, Manuel P. Asensio, is president of a nonprofit group formed in December 2009 “that has chosen as one of its few advocacy issues the...

asensio.com has researched a series of publicly traded companies that have been allowed to register shares of their common stock to traded on the U.S. stock exchanges but whose purported operations are based almost solely in China. asensio.com’s research has exposed serious regulatory...

A study released this past May by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) on fraudulent financial reporting by U.S. public companies, which examined financial statement fraud allegations investigated by the U.S. Securities and Exchange Commission...

Today China Sky One Medical, Inc. (NASDAQ: CSKI) reported fourth quarter and fiscal year 2009 earnings. asensio.com previously reported on a controversy surrounding CSKI’s patents – namely, that CSKI did not have any patents, though it claimed to have patents worth $15 million –...

Yesterday Yuhe International, Inc. (NASDAQ: YUII) announced that Grant Thornton “is resigning as the Company’s independent registered public accounting firm effective immediately,” according to an 8-K filed by Yuhe. Yuhe’s share-price fell 18% yesterday. Yuhe is the...