A FRAUD WENT UNDETECTED, ALTHOUGH EASY TO SPOT

Without a rule of law, investing is an extraordinarily hazardous undertaking.

The latest charges of fraud in a Chinese company traded in the United States were filed this week by the Securities and Exchange Commission against two former executives of a Chinese coal company who the commission says stole and sold the company’s assets before they raised more than $100 million from public investors in the United States.

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