Even Hindenburg is entitled to a slam dunk once in awhile.
Even so, their write-up was very good, and in much greater detail that other media outlets (I believe both Forbes and Fortune have covered much of the same ground over the last couple of years). Hindenburg dug much deeper and had more first-hand sources than anyone else has provided.
Remember GIFX? That was a Cyprus company. Northern Cyprus, a.k.a. the Turkish Republic of Northern Cyprus.
The board's still somewhat active. The stock seems to be dead. At OTC Markets, it's Pink Limited and has a caveat emptor flag. But it just made some disclosures, so perhaps it's gonna try to make a comeback: