Chinese gold mining company, Real Gold Mining, listed on the Hong Kong exchange in 2009. In May 2011, the SCMP newspaper published an article pointing out a discrepancy between the company's reported sales and profits and those in SAIC filings. The company's shares were suspended (never to resume trading) and it denied the allegations. However, a few days later the SCMP alleged that the company's controlling shareholder had illegally pledged some of Real Gold's mines as security for loans for his personal business. The company confirmed that this was the case, prompting a series of resignations, including the company's auditor in October. Things went from bad to worse as it transpired that a number of regulatory bodies were investigating Real Gold's largest shareholder for financial fraud. It is entirely clear from the filings if Real Gold was a fraud or the victim of embezzlement. The company finally delisted in 2020.

The information on this page has been compiled from publicly available sources. GMT Research Limited has not verified the information and does not warrant its accuracy. Any claims made or views expressed are not necessarily those of GMT Research Limited.