U.S. investors alert: The ‘Netflix of China’ is under investigation for fraud

U.S. investors alert: The ‘Netflix of China’ is under investigation for fraud

FPI / August 21, 2020 Commentary by Jason Orestes Luckin Coffee, a Chinese company listed in the U.S. was once worth nearly $13 billion before it was unearthed that half of its sales, some $300 million, was fraudulent. The stock plummeted well over 90 percent and decimated U.S. investors. This isn’t an isolated incident. Chinese […]

About time: Chinese firms will be forced to adhere to U.S. accounting standards

About time: Chinese firms will be forced to adhere to U.S. accounting standards

FPI / August 12, 2020 Commentary by Jason Orestes The Trump administration has followed through on a key and far overdue promise to mandate stringent U.S. accounting rules for Chinese companies that trade in U.S. markets. Treasury Secretary Steven Mnuchin made the recommendation to the Securities and Exchange Commission (SEC) last week, and it’s fully […]