ABC finds China economic boom includes massive fraud

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It’s getting so you can’t trust anyone these days. After years of hearing experts in this country, and even Fairfield County, touting the advantages of a Chinese capitunism for manufacturing and investing, there are sizeable concerns about fraud in the Far Eastern country.

ABC News is reporting this week that tens of billions of dollars from American investors might be gone, lost  in alleged Chinese Ponzi schemes and other investment frauds. The money is flowing from a variety of sources including high net worth individuals and hedge funds, according to ABC.

If the numbers are right, get ready for a rocky 2013. Check out the report:

http://abcn.ws/WzVyCK

Categories: Economy, General, Wall Street
Rob Varnon

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