KPMG was not paid to discover fraud.
KPMG was not paid to discover fraud.
So two guys started a medical company that was totally fake and had no revenue at all.
They got KPMG to audit their books and confirm they are legitimate.
While on the NASDAQ they were recording revenue by taking the money they got selling stock, sending the money from the company to a shell company they controlled without recording the debit and then the shell company would send the money back and they would record the credit as revenue.
It's a fun watch, but you have to ask your self just what kinds of fucking idiots are employed at KPMG such that they went through a whole audit / underwriter process to get listed on the NASDAQ and the whole fucking company did not exist!
Unbelievable.
So two guys started a medical company that was totally fake and had no revenue at all.
They got KPMG to audit their books and confirm they are legitimate.
While on the NASDAQ they were recording revenue by taking the money they got selling stock, sending the money from the company to a shell company they controlled without recording the debit and then the shell company would send the money back and they would record the credit as revenue.
It's a fun watch, but you have to ask your self just what kinds of fucking idiots are employed at KPMG such that they went through a whole audit / underwriter process to get listed on the NASDAQ and the whole fucking company did not exist!
Unbelievable.
This is very common in the financial world, absolutely no one in that field cares at all whether something is a scam or not. They all have so much greed in their hearts, they act first and think later. And when it fails, who cares, the taxpayer bails them out every time
This is very common in the financial world, absolutely no one in that field cares at all whether something is a scam or not. They all have so much greed in their hearts, they act first and think later. And when it fails, who cares, the taxpayer bails them out every time
They "couldn't" figure out China's largest real estate developer was a scam either. FYI CCP is 51% owner of every business in China.
They "couldn't" figure out China's largest real estate developer [Evergrande](https://www.finews.com/news/english-news/47961-lenders-to-china-evergrande-prepare-loan-loss-provisions-and-rollovers) was a scam either. FYI CCP is 51% owner of every business in China.
(post is archived)