Switow is an impressive site. Does anyone know what is it equivalent to in USA? Are there a lot of these kind of sites in China or is Switow somewhat original?
One of the definite possible scenarios is that these guys overstated the hell out of revenues and forged contracts in order to raise capital. Then they hoped they could go out and build a business that was profitable enough to plug the prior years holes.
I think everyone agrees that some part of the business exists, but what the main purpose of the fraud is still rather unclear.
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