Hall of Shame
Kandi Technologies (KNDI US)
It was alleged that the stock price and volume were artificially inflated from Jun 2009 to Dec 2010 by S. Paul Kelley and co., who were involved in a settled securities fraud case with the SEC.
It was also accused of covering up over-stated revenue and EV sales numbers in 2009-2011.
Panama Papers leak revealed intentional concealment of self-dealing transaction by the chairman and an unexplained $80 million discrepancy between Kandi and Geely filings.
It was investigated by Block & Leviton LLP in 2017 after it announced accounting errors and restatement of 3 years of financial results.
Kandi Technologies: 2010 Annual Report, 29 Jul 2011; 2015 Annual Report, 14 Mar 2016
SEC: SEC Charges Toronto-Based Consultant and Four Others with Multiple Chinese Reverse Merger Schemes, 7 May 2014
Forbes: Kandi Technologies: Weighing The Evidence, 31 May 2013
Seeking Alpha: Kandi Technologies: Chinese EV Clunker Begins To Break Down Amid Subsidy Scandal, 18 Aug 2016
PR Newswire: Kandi Technologies Corp. Investigated For Securities Fraud By Block & Leviton After Announcing Numerous Accounting Issues And A Multi-Year Restatement Of Its Financial Results, 14 Mar 2017