China Energy Savings Technology, Inc.

SEC v Moore Stephens Wurth Frazer & Torbet LLP & another
US SEC, 20-Dec-2010
Webb-site warned investors about potential problems at CESV on 8-May-2005.
SEC v Jason M Genet - settlement
US SEC, 6-Aug-2010
Thinsoft's thin ice
There's a bubble in Thinsoft (8096), suspended with a market value of HK$1,604m and net assets of $33m. Over 95% of the company is in the custody of 2 brokers. We also discuss the archaic practice of parallel trading, which was to have been abolished in 2008. HKEx appears to have given up on that. (11-Dec-2009)
SEC v Jason M Genet - Complaint
US SEC, 30-Sep-2009
SEC v CESV, Chiu Wing Chiu, Stella Sim Lai Fun, Sun Li & others
US Court: Eastern District of New York, 6-Jul-2009
China Railway Games
In part 2 of a series, we look at how HK$16bn of market cap evaporated when bubbles around China Railway Logistics, PME and Forefront burst. Each dealt with the same purported arm of the Ministry of Railways for joint ventures in wagon-leasing, media and online ticketing, each of which failed to get started. A miriad of BVI shells with shadowy owners are involved, but at least one has exposed himself in a court case. (11-Jun-2009)
SEC files fraud charges against China Energy Savings Technology, Inc. & others
US SEC, 4-Dec-2006
Golden Resorts (1031): agreement to sell 35% of Starway Management Ltd, 10-Jan-2005
Company filing, 22-Aug-2006
Golden Resorts and CESV
M-chip Golden Resorts (1031) is seeking shareholders' approval on 17-May-05 to sell a stake in an associate to a BVI company for HK$52m, or a P/E of 0.63. Meanwhile across the ocean, Nasdaq-traded China Energy Savings Technology (CESV) says that on 1-Feb-05 it completed the purchase of the same stake, in exchange for shares worth HK$731m, from the same BVI company. Who's telling the truth, and why is Golden Resorts selling for so little? (8-May-2005)

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