U.S. considers fraud investigation into Chinese Internet companies
Linda Young – AHN News Writer
Washington, D.C., United States (AHN) – Shares of Chinese Internet stocks took a nose-dive in value in New York trading after an announcement of a potential fraud investigation of some Chinese firms by the United States Justice Department. Justice Department official Robert Khuzami, director of enforcement at the US financial services regulator, announced he was considering launching a fraud investigation. He said it was because of accounting irregularities at several Chinese firms with shares that trade publicly in the U.S. Khuzami did not disclose the identities of the Chinese companies or auditors whom the Justice Department is considering investigating. In addition, he said that other parts of the Justice Department were actively [...] Continue Reading…