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Consumer Discretionary

Boshiwa (2158448D HK)

Year: 2012

Chinese Children's retailer Boshiwa listed on the Hong Kong stock exchange in September 2010. Less than two years later, in March 2012, Boshiwa announced that its auditor, Deloitte, had resigned following the existence of questionable transactions. The subsequent forensic investigation conducted by PwC took just over a year to make its findings public, in which it highlighted fictitious sales transactions and large unreconciled differences with supplier prepayments. Provisional liquidators were appointed in February 2015 and the company's listing was cancelled in 2020. Boshiwa is a confirmed fraud.

Last edited: 16 August 2021

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