Friday, December 19, 2008

Chinese executive guilty of fraud

Big News
Thursday 18th December, 2008

A former executive with China World Trade has pleaded guilty in a US federal court on fraud charges, resulting from an e-mail stock manipulation scheme.

How Wai John Hui has pleaded guilty to sending tens of millions of e-mails that promoted obscure stocks, in an effort to inflate the value of stocks he owned.

The spam-for-profits scheme was instigated by How on behalf of Chinese companies

How is a resident of Hong Kong and Canada.

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