Longwei Petroleum (fka LPIH)

[MorningLightMountain]

6. CFO Mike Toups, by simply looking out of the Taiyuan office windows at the nearly idled tanker fueling station next door should have easily detected and prevented LPH's brazen fraud, given the amount of time he claims to spend at the facility.

LPH CFO Mike Toups has repeatedly told investors that he spends half the year in China, at LPH's corporate office adjacent to the Taiyuan tanker fueling station. If Mr. Toups has been telling the truth about the amount of time he spends at the Taiyuan facility, then he could not possibly be unaware of the fact that the Taiyuan facility is nearly idled.

Mr. Toups claims to have over 12 years of experience with Asia-based companies. His experience as a director of Lotus Pharmaceuticals (LTUS - now $0.01/share) and interim CFO of Worldwide Energy and Manufacturing (WEMU - no longer trades due to the SEC revoking registration), both companies that were also clients of RedChip, should make him painfully aware of the prevalence of fraud in China.

Likewise, his participation in LPH's Investor Relations response to the collapse of China Integrated Energy (CBEH - delisted), including his participation in the RedChip "documentary" showing how LPH was better than CBEH indicates that either Mr. Toups was aware and a part of LPH's fraud, or else he has seriously exaggerated the amount of time and attention he has paid to LPH's business operation. Based on our research, we are inclined to conclude that Mr. Toups is at best a very negligent CFO who seriously misled investors to believe that LPH was operating a meaningful business.