Shares in China fraud Naibu (NBU) bounced to 27p at the tail of the week. That is a dead cat bounce. This is a fraud and the shares are worth 0p. But the episode shows just why regulation on the AIM Casino is such a total joke.
On Thursday I showed you evidence from the Chinese press which was damning as to the integrity of Naibu CEO Houyan Lin – see HERE. On ANY other stockmarket in the Western world or on the HK Exchange Naibu would have been forced to put out a statement at once either saying “this is untrue” or “this is true.” If it was the latter Mr Lin would have broken AIM rules and either he or Naibu would have had to go.
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