Short-seller Carson Block, the the founder and research director of Muddy Waters Research, has just released a new research report in the form of a narrated video where he’s alleging a “high risk of fraud” at Fushi Copperweld (Ticker: FSIN).
“We previously took a look at Fushi Copperweld internally because it’s the subject of a troubled go-private bid by its chairman. Our work on FSIN included factory surveillance and SAIC file review. Our conclusion is that we believe FSIN presents a high risk of fraud,” Block said in the video.
Block is best known for releasing a damning report about Chinese timber company Sino-Forest that the company overstated its timberland holdings causing the stock-price to nose dive.
Here’s Block’s so-called “Frauducation” video presentation.