China Nonferrous Metal Mining (CNMM) listed on the Hong Kong Exchange in February 2005. In January 2015, the company announced that it was recently made aware of three writs in China against its subsidiaries for undisclosed loan guarantees made by its controlling shareholder. A few months later, in April, the company's preliminary FY14 results received a qualified audit over undisclosed related party transactions, alleged undisclosed guarantee documents, questions over the recoverability of receivables and deposits, pending litigation and insufficient documentation. The conclusions of a subsequent forensic investigation released in February 2018 implied that the company's major shareholder had attempted to raise an undisclosed loan in order to fill a gap in the listed company's financials relating to questionable deposits and receivables. As such, CNMM is a confirmed fraud.

Last updated July 2022.

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