China MediaExpress Holdings, Inc. (fka CCME)

[MikeL300]

Your conclusions are correct.

Puda Coal's ex-CEO is now a billionaire and drives around in a Ferrari. Where did that money come from?

No punishment at all.

I have no doubt there is a big wad of cash at CCME or in Chang's possession already. Directors do nothing & have probably been bribed to do nothing. Chang has no intention of continuing the business -- Switow is dead. He has succeeded immensely in his goal of making off with the company cash.

For the future, the SEC should require Chinese companies trading on US exchanges to simultaneously list at least 1/3 of their shares on the Shanghai exchange. This way if there is fraud, China's own citizens get burned by the stock too and there will be major punishment in China.