Over the last 10 years, everyday U.S. investors have been defrauded of more than $50 billion by Chinese companies listed on the NYSE or NASDAQ. To put that in perspective, Enron cost investors $75 billion. The main difference is Enron was a one-time event. The fraud committed by Chinese companies, which has been called “brazen” by former SEC Chairman Mary Schapiro, has played out dozens of times over many years and continues today.
As a country, we must take action to stop those who commit these frauds. This site tells only a small part of the story of the fleecing of American investors. Eventually, that story needs to include action by the SEC and Congress to protect American investors.
GeoInvesting has been working to address this fraud for more than three years.
This is a small listing of Chinese companies that have committed fraud.
Capital Raised | Peak Market Cap | Current Market Cap | ||||
L&L Energy, Inc. | $ | 16,198,824 | $ | 392,624,781 | $ | 347,770 |
New Energy Systems Group | $ | - | $ | 52,064,353 | $ | - |
Orsus Xelent Technologies, Inc. | $ | - | $ | 16,464,357 | $ | 25,210 |
Puda Coal, Inc. | $ | 128,345,000 | $ | 341,901,718 | $ | 15,010 |
China Natural Gas, Inc. | $ | 83,007,813 | $ | 313,733,618 | $ | 160,000 |
Sino Clean Energy, Inc. | $ | 39,492,830 | $ | 148,669,530 | $ | 3,820,000 |
Fuwei Films(Holdings) Co., Ltd. | $ | 30,233,000 | $ | 228,593,750 | $ | 8,790,000 |
RINO International Corp. | $ | 117,093,175 | $ | 868,281,648 | $ | 85,830 |
Longwei Petroleum Hold, Ltd. | $ | 15,997,000 | $ | 369,783,251 | $ | 1,010,000 |
China Integrated Energy, Inc. | $ | 67,852,303 | $ | 403,221,383 | $ | 4,900,000 |
Yuhe International, Inc. | $ | 42,441,965 | $ | 193,068,370 | $ | 202,500 |
Deer Consumer Products, Inc. | $ | 93,578,000 | $ | 293,142,950 | $ | 335,930 |
Subaye, Inc. | $ | 4,999,000 | $ | 156,607,079 | $ | 13,120 |
Exceed Co., Ltd. | $ | 30,035,000 | $ | 128,310,000 | $ | 21,940,000 |
GLG Life Tech Corp. | $ | 33,241,278 | $ | 332,560,639 | $ | 11,370,000 |
China Redstone Group, Inc. | $ | 4,195,371 | $ | 81,908,660 | $ | 17,740 |
Sinotech Energy, Ltd. | $ | 156,019,736 | $ | 571,710,529 | $ | - |
Fab Universal Group | $ | 1,108,923 | $ | 201,816,842 | $ | 5,270,000 |
Lihua International Inc | $ | 51,840,055 | $ | 373,876,403 | $ | 542,200 |
$ | 915,679,273 | $ | 5,468,339,861 | $ | 585,845,310 | |
Loss In Market Capitalization | $ | 5,409,494,551 | ||||
Loss In Raised Capital | $ | 915,679,273 |