Longhai Steel, Inc. (fka LGHS)

[sunspotter]

The only *pattern* with LGHS is that it's one of a rather large number of Chinese VIE scams that I warned about for a long time, while others ran interference for the scamsters behind it.

Those who listened to me saved themselves from losses of 95% or more of their initial stake.

Those who preferred to believe nonsensical stories about naked shorts and wicked market makers didn't.

It's the same story on most penny stock scams, especially highly risky propositions like Chinese-run LGHS.