Many big book-cooking scandals of the past 20 years emerged in downturns
owned up to a $65bn Ponzi scheme in December 2008, it was not out of guilt. He knew the game was up. Three months earlier Lehman Brothers had imploded. The market meltdown sent clients clamouring to withdraw from his funds, leaving them depleted with many investors still unpaid. American regulators had not spotted the fraud, despite a tip-off years earlier. It was not them that did for Mr Madoff, but recession.
These revelations have revived fears over the flaky corporate governance of Chinese firms listed on foreign exchanges, whose audits, conducted at home, China’s government makes it hard for outsiders to inspect. A gaggle of fraud-hunters like Citron and Muddy Waters, which outed Luckin, claimed numerous scalps after the first wave of such listings a decade ago. This time they are looking beyond China.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Opinion | AMLO Tries to Capitalize on CoronavirusFrom WSJopinion: Mexico’s president is using the coronavirus crisis to advance his socialist agenda, but markets will have the last laugh, writes MaryAnastasiaOG
Baca lebih lajut »
EU economics chief: 1.5 trillion euros in aid could be needed to tackle coronavirusThe European Union's Economics Commissioner Paolo Gentiloni told German magazine Der Spiegel that aid worth around 1.5 trillion euros ($1.63 trillion) could be needed to tackle the coronavirus crisis.
Baca lebih lajut »
Richard Branson offers his island as collateral as Virgin Atlantic and Virgin Australia face collapseVirgin Atlantic and Virgin Australia will need government support if they’re to survive the economic crisis triggered by the coronavirus pandemic, billionaire founder Richard Branson says.
Baca lebih lajut »
Global health crisis pits economic against health concernsThe global health crisis is taking a nasty political turn with tensions worsening between governments locked down to keep the coronavirus at bay and people yearning to restart stalled economies and forestall fears of a depression.
Baca lebih lajut »
Unemployed Americans have a new full-time job: Filing for jobless benefitsMore than a month into the nation's coronavirus-spurred economic crisis, state unemployment agencies remain overwhelmed by the record number of newly jobless Americans filing for benefits.
Baca lebih lajut »
Now Is the Time to Get to Know Your Natural Hair“There are no hard-and-fast rules for how to take care of black hair. What works for one black woman may not work for another. It takes a lot of trial and error to create your own user manual, and when you have a full-time job, it’s hard to find the time”
Baca lebih lajut »