Hall of Shame
Sino Clean Energy (SCEI US)
In Apr 2011, Alfred Little published a report which reveals that the company's factories has very little production activity and its revenue is less than 1% of that reported in SEC filings. It is also alleged that company chairman Baowen Ren defrauded over $20m from Chinese investors using a Ponzi share scheme.
The company was delisted and has filed for bankruptcy in Jul 2015.
 Alfred Little: Sino Clean Energy is a Complete Hoax and its Shares are Worthless, 28 Apr 2011
 Alfred Little: Sino Clean Energy's $20 Million Chinese Ponzi Share Scheme, 2 May 2011
Sino Clean Energy: Annual Report 2010; Annual Report 2011