dob Jiameng and his dad in with the Chinese tax ministry and Chinese police, for circumnavigating Chinese currency foreign transfer law and avoiding tax.
by taking out loan, using share as collateral. Then deliberately default. so they can transfer money outside of china and to avoid paying capital gain tax and any relevant tax related to share transfer.. legally, individual can only transfer $50,000 outside of china each year.
we are looking at hefty jail time, if they are convicted..
if we have many many shareholders lodging complains. Then the issue will look at by the Chinese authority.
XPD Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
