Hongchang International Company Ltd (HCIL)

[micham2012]

I tripped over this stuff when I googled Pacific Webworks. As I typed in the company name, the automatic google feature popped up an entire category "Pacific Webworks scam." I didn't go looking for it. It was there to click on.

There are pages and pages and pages of Google links to ripoff stories. Yes, many are dated. However, some are quite recent:

http://forums.moneysavingexpert.com/showthread.html?p=23951133

I have not attempted to quantify the recent ripoff stories and compare them to 2 year old stories. Perhaps as you suggest, this is an old problem that has been fixed, and the credit card fraud complaints linked above are anomalous.

I do note a drumbeat of recent PRs from the company to the effect that the upcoming revenue numbers will be great. Hell, maybe the stock will go to $1. But I became concerned there was so much selling in the face of these PRs. And I do wonder how much of the revenue is recurring credit card charges that were never authorized.

It only takes one class action filing to tank the stock, and if the credit card fraud is pervasive . . .