AP Confirms Charges Against Tianhe Chemicals, Adds More

When Anonymous Analytics revealed stunning allegations about Tianhe Chemicals Group Ltd (HKG:1619), first reported by ValueWalk on September 1, the stock began to crater, moving from $2.43 to $1.37 within a day. As the headline calling the Chinese firm the biggest fraud since Sino-Forest Corporation (TSE:TRE) (OTCMKTS:SNOFF) crossed the tape was announced, the details claimed revenue issues and conflicts of interest. Today an excellent in-depth new report from the Associated Press only adds fuel to that fire, confirming the analysis of Anonymous Analytics and adding new charges. Tianhe Chemicals’ largest customer The AP reports that the Tianhe Chemicals’ largest customer, Shanghai…