➀ A shoe-shine boy who introduced 'Texas Hot' to Wellsville, New York, and participated in the liberation of Dachau in WWII became the biggest US cable TV provider outside Philadelphia, Pittsburgh, Cleveland, and South Florida. ➁ He and his two brothers took $3.1 billion in unrecorded loans from the company for personal use and were charged with looting the company. ➂ He was sentenced to 15 years in jail. Moral: All that glitters is not gold.
Recent #Corporate Fraud news in the semiconductor industry
➀ Shenzhen Stock Exchange revealed an anonymous case of IPO manuscript tampering, involving the use of pasted images for seals and post-editing of sales orders. ➁ Changjing Technology, a semiconductor company, hastily withdrew its IPO application after being questioned by the exchange. ➂ The exchange found anomalies in the company's distribution revenue accounting and sales documents, with many original records unavailable.