Hong Kong – Wuzhou International Holdings Limited, an investment holding company, operating as a real estate developer in Mainland China is beginning to raise suspicions over its activities recently. There are different reports online alleging the property developers of engaging in fraudulent activities. Currently, the Securities and Futures Commission (SFC), a statutory body set up to regulate the securities and futures markets in Hong Kong has started investigating Mr. Shu Ce Cheng, CEO of Wuzhou International over alleged possible fraud case it had committed while executing a project in Dali, Yunnan.
It is being alleged that Mr. Shu, the CEO of Wuzhou is diverting funds realized from the sales of stocks into his initial investments depriving shareholders of their dividends. The company is currently offering stock and is doing all it can to make it appealing to investors but is currently denying current shareholders a fair treatment. The shareholders have submitted their own side of the story and all the evidence requested to the Securities and Futures Commission (SFC). The greatest concern with Wuzhou International is that the company is trying to take other peoples’ money, use it for its own needs while neglecting its contractual obligations to these people.
There are other businesses conducted by Wuzhou International that are currently being subjected to various lawsuits. One of such businesses in Wuxi recently charged massive rent totals at the Columbia Mall. These rents came about even after the tenants completed their agreements on the terms, thus making it harder for people to afford it properly. More than six hundred business owners were harmed by this. Investors are warned to do their careful research before buying stocks from Wuzhou International as they might find their investments a complete waste.
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Contact: Wesley Wang