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Scam Chinese companies listed on AIM
EdGasket
Posts: 3,503 Forumite
Today a third (that I know of) Chinese company listed on the LSE AIM market has been suspended and unlikely to come back. CAMK has been added to the list of NBU and CTEK (and ACE looks like another) , all of which have trended inexorably down since IPO. All have turned out to be pretty much companies in name only and only listed to allow Chinese to launder money out of China. We are NOT talking here of someone making a cold call and selling dodgy shares, we are talking about companies 'regulated' by the LSE with UK nominated advisors and brokers, listed on the London stock exchange. NBU and CAMK were also recommended by the Investor's Chronicle in Simon Thomson's column.
My question is why have these 'companies' been allowed through all the regulatory checks, allowed a stock exchange listing, resulting in UK investors being scammed out of millions in the process? Is there any case for a claim against the regulatory authorities for misconduct and if so who/which one?
My question is why have these 'companies' been allowed through all the regulatory checks, allowed a stock exchange listing, resulting in UK investors being scammed out of millions in the process? Is there any case for a claim against the regulatory authorities for misconduct and if so who/which one?
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You may enjoy this thread on MF.
http://boards.fool.co.uk/camkids-suspendedhead-of-aim-should-be-too--13272387.aspx?sort=whole#13272387I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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