Probe confirmed
Source: Bloomberg News |
November 12, 2011, Saturday
|
Print Edition
Print Edition
SINO-FOREST Corp yesterday confirmed the Canadian police have begun a criminal probe to determine if the Chinese timber firm defrauded investors.
Sino-Forest is cooperating with the Ontario Securities Commission and the police investigations, Sarah Rivers, a company spokeswoman, said by e-mail yesterday.
The OSC suspended trading of Sino-Forest on the Toronto Stock Exchange in August and said some directors and officers may have engaged in acts that "they knew or should have known" were a fraud. Sino-Forest executives have denied the allegations.
Sino-Forest is cooperating with the Ontario Securities Commission and the police investigations, Sarah Rivers, a company spokeswoman, said by e-mail yesterday.
The OSC suspended trading of Sino-Forest on the Toronto Stock Exchange in August and said some directors and officers may have engaged in acts that "they knew or should have known" were a fraud. Sino-Forest executives have denied the allegations.
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