In the interests of maintaining balance about my bullish views on Chinese small and mid cap stocks, the Securities and Exchange Commission filed suit against Jason Genet in a New York federal court alleging that he “pumped and dumped” the stock of China Energy Savings Technology for a profit of $1.7 million. China Energy completed a reverse merger in 2004.
Moral of the story. I love China and you can love China too – but make sure to do your due diligence each and every time you look at a new possible investment.
Regards,
George