Fibrechem Tech: Still suspended. After 3 yrs of investigations by nTan, an unauthorized share transfer and $130m in missing cash. The discrepancies found led nTan to conclude it was over an extended period of time and questioned published financial statements over the yrs. Given the irregularities, nTan noted it would be reasonable to conclude that senior mgmt including the CEO and CFO were aware.
The co was suspended in Feb 2009 after auditors could not finalise its trade receivables and cash balances.
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