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Fanhua Inc. (FANH US)

Year: 2018

Chinese insurance broker Fanhua originally listed on the NASDAQ as CNinsure back in 2007. It was first attacked by research company OLP Global back in 2010 alleging accounting violations but the allegations were were not proven. It changed its name to Fanhua in 2016. From August 2018 through to February 2019, it was attacked by three short-sellers, Seligman, J Capital and GeoInvesting, alleging fraud. The allegations were not proven given that (i) a special committee established to investigate the allegations found no wrong-doing; (ii) its auditor, Deloitte, signed off on its financials; and (iii) its financials do not have fraud-like traits. 

Last updated December 2021

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