Anonymous exposes alleged stock fraud

Better known for hacking major corporations and troubled political regimes, Anonymous members have turned their investigative powers to the stock market.

By Staff | September 3, 2014 | Last updated on September 3, 2014

1 min read

Better known for hacking major corporations and troubled political regimes, Anonymous members have turned their investigative powers to the stock market, reports the Financial Post.

An arm of the collective, called Anonymous Analytics, says through extensive research it’s uncovered “one of the largest stock market frauds ever conceived.”

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It alleges Chinese lubricants maker Tianhe Chemicals created fake regulatory filings, failed to disclose non-arm’s lengths transactions and overstated its profitability, reports FP. The company went public on the Hong Kong Stock Exchange earlier this year.

Anonymous says it doesn’t want to make money from the revelations—though it says some of those who researched the report may be shorting Tianhe’s stock.

Trading of Tianhe has been suspended. The company says Anonymous’ report contains errors and misleading statements that it will respond to more thoroughly.