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new way of making money disappear

Thread starter kongsimi
Start date Jan 19, 2013

kongsimi

Alfrescian

Loyal

Jan 19, 2013

Caterpillar writes off most of China deal after fraud
Reuters: Top NewsToday, 01:25
(Reuters) - Caterpillar Inc uncovered "deliberate, multi-year, coordinated accounting misconduct" at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of the deal and wiping out more than half its expected earnings for the fourth quarter of 2012.

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