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Chinese companies 'rent' white foreigners

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July 13, 2010 – Comments (5)

I posted the other day that Chinese small caps typically scare the he-two-sticks out of me and I almost never invest in them in real life (see post: Have any Chinese babies been thrown out with the fraudulent bathwater?).  Of course I then went on to give the thumbs up to a Chinese small cap, Tongxin International (TXIC) in CAPS more as an experiment than anything.

I came across a fascinating expose by CNN today that talks about how a number of Chinese companies have been hiring white actors to pretend that they are high level executives or just employees in their organizations in an effort to trick investors.

Chinese companies 'rent' white foreigners

The piece doesn't indict any specific public companies, but it is fascinating stuff and it's definitely worth a read prior to investing any real money in an obscure Chinese company. 

Deej 

5 Comments – Post Your Own

#1) On July 13, 2010 at 12:20 PM, kdakota630 (29.49) wrote:

Someone should've told them that TXIC probably isn't the best choice of tickers.  Sounds too close to ToXIC.  At least to me, anyway.

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#2) On July 13, 2010 at 1:57 PM, chk999 (99.97) wrote:

What's the going rate for this? My hair is silver and I can wear a suit with the best of them.

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#3) On July 13, 2010 at 2:24 PM, PhulishMortal (< 20) wrote:

I'm with you, chk999.  Perhaps I can get paid for my graying temples.

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#4) On July 13, 2010 at 3:24 PM, TMFDeej (99.43) wrote:

HA I'm in too, though with two children I'm not too keen on travelling to China for any extended period of time.  Perhaps I can do fake video conferences for Chinese companies.

As far as the payment goes, I recall one "actor" mentioning $300. That's not bad for a day's work, particularly if it's tax free...and I doubt that any of these folks are declaring this income.

Of course the possibility being arrested by the Chinese police is there.  I don't think that I'd do well in a Chinese prison.

Deej 

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#5) On July 14, 2010 at 1:31 AM, uclayoda87 (29.14) wrote:

If they are willing to wait, my company could stage a nice outdoor meeting with blooming cherry trees, powder blue sky and puffy clouds, just to show how clean and peaceful the chinese industrial machine can be.  Payment in gold and silver coins, no US dollars please.

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