Anonymous faction in new attack on corporate fraud

Anonymous faction in new attack on corporate fraud

www.newscientist.com

A faction within the online hacking collective Anonymous has moved into an unlikely new area - exposing corporate fraud and making money in the aftermath. A new financial research group, Anonymous Analytics, has released a report accusing Chinese firm Chaoda Modern Agriculture of "11 years of deceit and corporate fraud". The company is one of China's largest fruit and vegetable suppliers and is listed on the Hong Kong stock exchange.

(visit the link for the full news article)

I find it sort of amusing, if not down-right telling, that despite all claims to the contrary, the advent of the rise of corporate dominance in governance has not lead to any true benefit to society at large, but instead served only the financial interests associated with corporate activities.

The group alleges that Chaoda's management has funnelled more than $400 million out of the company through false accounting and payments to shell companies. Hong Kong's government annouced an investigation into the company on Monday, shortly before the release of the Anonymous report, leading its shares to fall by 26 per cent before being suspended from trading.

In a country such as China, whose projected ideology was to avoid the corruption of the west; one might think they would realize that it was not the "West" itself that was corrupted, but the predatory commercial paradigm that drove it.

While I struggle to always avoid any schadenfreude over the fate of other "competing" nations, I can't help but feel the impulse to say "You should have known better" in regards to accepting the populist political rhetoric that lead many countries to characterize this kind of greed as pertaining to the "quote" West "unquote."

When mercantilism and corporate empire-building become the objectives most closely attended to by a government that purports to be "of the people" the actors inevitably face the temptation of profiteering... and few of the narcissists can convince themselves that they don't "deserve" to take advantage of the situation... now I can safely demonstrate that China is no different.

I don't mean to imply that people's hearts are not in the right place... I mean to explicitly state that the kind of people who "lead" appear to be more inclined to exploit loopholes and lack of oversight to express their personal power; and they excuse it by their very position.

As usual, reliance on governance to interdict and correct such abuses is misplaced when those leading are part of the problem.

China's food market is the heart of her robust economy... with that many citizens to feed, it stands to reason.

www.newscientist.com
(visit the link for the full news article)

Personally I think it all messed up when we started putting worth into paper instead of things that are actually crucial or handy to our survival. Our economy is the problem as well as general greed.

"The group alleges that Chaoda's management has funnelled more than $400 million out of the company through false accounting and payments to shell companies."

Shell companies are used to launder monies... Excellent way to really piss off the Chinese government would be to get caught doing this.. Without approval.

Being outed by Anonymous would be a logical first step... Next, firing squads!

Some excellent points have been made in this thread. Some believe that it's greed that corrupts and maybe that's true, but we need to see the other side of the equation which is our economic model and the fundamental philosophy of capitalism. The truth of the matter is that our system rewards the sociopathic amongst us and promotes the type of greed and inequality we see all around us, which is further compounded with our banking system. It also promotes eco-cyde, waste, slavery, and debt.

reply to post by Fractured.Facade


Hong Kong, China (I assume since that is where they were listed and that's the investigating government) so they won't get it as bad, but still not good.

reply to post by Maxmars


Anon are unstoppable.. There have been hundreds of arrests including key members going down... No army or government cans stop an idea whose time has come...

It's nice to see that Anon is branching out and creating a new arm in the fight against the NWO.
Go Anon!

This is really getting good. They have got to be instilling nightmares and shivers among the corporate and government greedmongers. Arresting Anon members is only going to make them stronger.

Are anon destined to fail at everything they do or are they just rubbish at hiding what they are really for?

I was alerted to an article from Finance Asia that called them on the fact that within this disclaimer, they are making the statement that the assumption must be made that the “Partners, Affiliates, Consultants, Clients, and other related parties” hold “short” positions in the securities profiled in the report. Which means that all of the parties named there will profit from shorts due to the data being released and potentially causing the stock to plummet and fail.

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