business

Unsecured Nomura-backed loan, missing CEO add red flags to China lending

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Ultrasonic on Tuesday said CEO Wu Qingyong and his son, Chief Operating Officer Wu Minghong, had been missing since the weekend, and most of the company’s cash reserves in China and Hong Kong had vanished. On Thursday, the company said the pair had withdrawn the cash in two tranches.>

Take the money and run baby....We make money the old fashion way...Sucker Japanese investors and then buy US real estate with stolen money!

I am sure a couple of payments to the local communist party and all is ok. After all...The money was stolen from foreigners...Not Chinese..So all is well.

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Any financial institutions from any country when asked to borrow money from any chinese business should run the other way!

-1 ( +0 / -1 )

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