Chinese Phone Giant Admits To "Unprecedented Degree" Of Falsified Revenue

May 19, 2017 | Courtesy of zerohedge.com

copy link
copy link

Fabricating data in China, it turns out, is not only a favorite government pastime. Publicly traded, if state-owned, phone giant Unicom Group fabricated financials relating to 1.8 billion yuan ($261 billion) in revenue over a five-year period from 2012 to 2016 - or as the company admitted, it engaged in an "unprecedented degree of falsified revenue."  This is China we are talking about, where the definition of "unprecedented" is very different from the US.

Read more

Archives

Search

All
Politics
Education
Tech
Health
Entertainment
Faith
Sports
Random