Photo: flickr: Naveg
The Royal Canadian Mounties are handling the criminal investigation into whether or not Chinese timber company Sino-Forest defrauded investors, Bloomberg reports.You may recall that trading was suspended on Sino-Forest in August, after Muddy Waters LLC published a report saying the company overstated its holdings in June.
“We cannot comment on the RCMP investigation, but Sino- Forest’s Independent Committee is in the latter stages of its own extensive examination of the business responding to allegations raised by short seller, Muddy Waters, and will respond fully by year end,” Sarah Rivers, a spokesperson for Sino Forest, said in the statement. “Sino-Forest is cooperating with the OSC and the RCMP’s investigations.”
If the Mounties were investigating us, we wouldn’t comment either.