Extraordinary Genius

Feng Yu phoned Kirilenko and Fu Rongqi to sell out Shitong's shares.

When Ralph borrows Business Weekly to expose the false account scandal of Stu, Stu, like Enron, is doomed.

Three days later, a new issue of Business Weekly was released.

The boss of an investment agency on Wall Street is sitting in a chair after work, as he does every day, grabbing new business newspapers and business magazines for the latest business information.

He suddenly saw the cover of Business Week, an Asian.

This gave him a lot of interest, so he first turned the issue of Business Weekly, which saved him a lot of money.

Oh, this is Masao Kameda, president of Windstorm Holding Group. Isn't Windstorm Holding Group, the legendary company? Well, Masahiro Tortoise was also the first company to be listed, and he was a genius to be able to be listed.

Wait, what did Masahiro Tortoise say at the end?

He hurried backwards, and then there was an article that proved that Shitong had falsified, and the data on it clearly showed that Shitong had at least $4 billion in accounts that was wrong. That was $4 billion!

He immediately grabbed the phone on the table and said, "Stocks of Shitong, throw them all away. Whatever you lose, now, now! ”

At the same time, a lot of people who get this information are also selling shares in Shitong. Think about the lessons of the van, and wait for Shitong to turn around? Then wait for Shitong's stock to turn into scrap paper!

Securities regulators in the US have also noticed that Shitong has too high a debt ratio. The legend of small fish eating big fish at once, relying on loans and new shares, is no longer a small Mala bus, but a small Mala train!

Today they also took note of an article published in Business Week that said that Ebos had provided its CEO, Ebos, with a huge loan of $366 million, which Ebos had no collateral, and that the loan was clearly problematic and was Ebos' medium-sized private bag.

At the end of last year and at the beginning of this year, the substantial engineering costs of the expansion of the telecommunications system were not accounted for as normal costs, but rather as capital expenditure, an accounting technique that generated nearly $3 billion in huge profits for the company.

And last year's nearly $1 billion in profits and about $300 million in profits in the first quarter of this year, they actually lost a lot of money.

Needless to say, the large number of loans that make them repay interest every day is not a small amount, let alone the general nature of their operations, where do they make their profits?

If they were profitable, would they be applying for another $2.5 billion in loans from a bank like 25?

If this news breaks out in another magazine, others wonder, is there a problem here? But if Business Weekly pops up, people instinctively believe it.

Besides, that article is not evidence: Shitong's auditing firm, like Enron, is Anshinda.

Together, these two fraudulent accounts scandals have also caused the near-extinction of Anshinda. They used to be the world's top audit firms. Now, nobody dares to invite them.

If Ansinda is hired, then isn't anyone else suspecting that their company is making false accounts? Even if you prove no, no one else has to believe it.

The day after the scandal in Business Week, the U.S. Securities and Exchange Commission announced an investigation into a past merger between Septon and the company's $366 million loan to Ebos.

And they immediately sued Shitong for civil fraud, and those false accounts had to be investigated in detail, and maybe that's more than that.

And Xiaobu Ten Anger, who is visiting abroad, is the world's largest Internet provider, the second largest long-distance telephone company in the United States, actually developed by fraud, what will others think of them in the US?

When he took office, a network bubble erupted, causing the US economy to recede, which in itself was a mess. As a result, the previous economy was good, and it was a complete illusion, all these companies that didn't know what to call it, and they speculated.

Would the Internet be that big of a bubble if there weren't companies like Enron and Shitong? Is he so clumsy now? In order to develop an economy and seek national cooperation, this president is too boring!

Shitong's credit rating was quickly adjusted to the lowest level, which said it was a loan, and already said that the company was doomed!

At the same time, 25 banks, which had intended to lend $2.5 billion to Shitong, also jointly sued Shitong for fraud, even some of which had not yet been recovered, joined in, arguing that Shitong had defrauded them by increasing their profits.

Shitong dives faster than Enron. It also suggests that investors are already making noise about such things as forgery.

However, in a few days, several auditing firms found out that Shitong had made two more mistakes. Previously, Masao Kamada's evidence was also proven to be true. Shitong's accounting problems have increased to nearly $8 billion!

Stock prices have jumped rapidly, from $70 billion in the previous period to $20 billion, and are still falling sharply.

Everyone formed a centralized sale, and many people couldn't throw out their shares at all, but Stu's share prices kept falling.

Shitong swiftly replaced the new CEO, but it didn't help. Although the new CEO claims that they have negotiated, received about $2 billion in financing, and will continue to provide high-quality services to their clients, no one believes it.

Now that the penalties faced by Shitong have not yet been decided, Shitong's share price has fallen again and has long since collapsed.

Even below the true value of Shitong, after all, Shitong still has many fixed assets, the value of which is worth more than $20 billion, unfortunately, Shitong still has higher liabilities, which are not sufficient to cover the liabilities.

So Shitong filed for bankruptcy protection faster than Ann.

Feng Yu they bought the stock settlement of Shitong in time, this time they made another small fortune. If it hadn't been for the over-indebtedness rate of Septon itself, they would have made more money.

This time, Masahiro Kameda, Ralph, etc. also made a fortune. At the same time, some of the shareholders of Business Weekly made a fortune. It was also their participation that made Feng Yu unable to sell past shares of Shitong.

Nevertheless, Business Weekly issued an invitation to Feng Yu to become its independent director and even promised to sell some of the equity to Feng Yu.

To be honest, all the shareholders want to have a relationship with Feng Yula. Hopefully next time, Feng Yu will bring them along!

And what Feng Yu didn't expect, the scandal of false accounts, the reach began to increase.

……