Nasdaq-listed Kingold Jewelry says it’s under investigations in China for using fake gold to secure US$2.9 billion of loans
Kingold Jewelry, the Nasdaq-listed company that used fake gold bars to obtain loans in China, said it’s under investigations in its home country after the Chinese government declared zero tolerance for financial fraud to head off a US law for kicking fraudulent Chinese companies out of US markets.An investigation is under way in the Hubei provincial capital of Wuhan, where the producer of household ornaments and jewellery is based, Kingold said in a filing to the US Securities and Exchange…
Nasdaq-listed Kingold Jewelry says it’s under investigations in China for using fake gold to secure US$2.9 billion of loans
Kingold Jewelry, the Nasdaq-listed company that used fake gold bars to obtain loans in China, said it’s under investigations in its home country after the Chinese government declared zero tolerance for financial fraud to head off a US law for kicking fraudulent Chinese companies out of US markets.An investigation is under way in the Hubei provincial capital of Wuhan, where the producer of household ornaments and jewellery is based, Kingold said in a filing to the US Securities and Exchange…