China Forestry releases results, points fingers at former CEO
China Forestry finally released its end of year results last week, after a three month investigation into long-mysterious "irregularities" placed the blame squarely on the shoulders of the former chief executive.
In an announcement on the Hong Kong stock exchange, the company said that former chief executive Li Han Chun and the finance team "under his control" falsified bank statements and payment slips.
The company said that under Li Han Chuns management, almost all business was settled in cash.
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