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Consumer Discretionary

Oriental Century (ORIC SP)

Year: 2009

Chinese education management services company Oriental Century listed on the Singapore Exchange in 2006. In March 2009, the company requested a share trading suspension as its auditor had difficulties confirming cash balances. The company's CEO confessed that he had faked sales and embezzled funds. The resulting forensic investigation revealed that the company had virtually no sales and was loss-making. Oriental Century is a confirmed fraud.

Last updated August 2022.

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