China fraud

No, not that Carlyle. And not that Buffett. Welcome to the alternate universe of Chinese finance.

A Chinese investment firm going by the name of Carlyle has accused the investment adviser to a fund known as the Buffett No. 1 Plan of committing fraud. The adviser of the Chinese Buffett fund has in turn accused the Chinese Carlyle of money laundering. Both deny the allegations. Read more

It has taken almost a week, but one of China’s biggest scrap metal dealers is finally ready for a, er, scrap.

China Metal Recycling, a HK$11bn company, was targeted by a Californian short-seller and research company on Monday. Glaucus Research Group, a new name on the beat-em-up circuit, issued a report on Monday accusing the the Hong Kong-listed group of exaggerating the size of its business. Read more