Kandi Technologies (KNDI US)

Kandi Technologies Group Inc manufactures small vehicles including all terrain vehicles (ATVs), golf carts, motor cycles, motor scooters and go-karts. The Company also is focused on the development of energy saving mini-cars.

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

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