E-Waste Systems Inc. (fka EWSI)

[melly270]

Actually no the article has different parts for the trouble with accounting issues between China and the Sec. Malone and one of their clients are being sued for adding income to an audited statement from China. It's against Chinese law to send any income or expenses to the sec for auditing reasons. I am pretty sure Malone was auditing financial statements from china when the problem happened. If you are being sued for submitting Chinese income as income would you be weary in the slightest bit????? Those leases involved Chinese companies that have records with Chinese banks that you can't verify with audited statements. That's what the problem is that EWSI is leasing from Chinese companies...either facilities or equipment and is selling recycled material to.....Chinese companies. Malone is in litigation for fraud so do you think they want to take a chance? From proof of the article IF EWSI is running a scam Malone would be on the hook because again its against Chinese law to give financial documents to a foreign entity. Malone is being over cautious right now and from reading the link you can see why.