Replies to post #34097 on China MediaExpress Holdings, Inc. (fka CCME)

[UpstateChris]

100% Scam is hard to define. It could have been a shell business to act as a cover/money laundering for illegal business as some have suggested - it could have been a legit attempt that was doing so poorly the books were heavily cooked to appear that they were doing great...who knows. Odds are that it was obviously NOT what we were led to believe.

After some reflection...for no apparent reason...I am left with a fact that really irritates me. Losing money on the stock is fine - that's my fault and I am not particularly concerned - it was painful and yes, I was ticked at first, but I'm over that and on to other, more successful investments. What ticks me off are those that I must firmly believe were part of the scam and outright lied to us for their own benefit. I do not believe these people were directly tied to CCME, I think they were aware of the truth and running a side scam of their own.

I'll give you one example - you can fill in the blanks. Someone went over and met with CCME and claimed to have regular contact and pumped it to the extreme both in public and numerous PM's. Up until the halt I could accept that this person was in the same boat we were in. Then the rumors that PWC was in there doing a forensic audit (which I stated I did not beleive from the very beginning). This person PM'd me TWICE that he had direct, first hand knowledge that PWC was in fact in there and was in fact hired by CCME to do a forensic audit. Problem is, it has been like 3x longer than a forensic audit would take without a single word. Let's use some common sense...if you spent $300-500K U.S. for a forensic audit to prove you are clean, (and you would only spend the money if you were clean) then you know damn well you would be screaming the results to the world. So where is the PR?

The only conclusion I can draw in retrospect is that this person figured out what was going on and made a huge personal gain on it at our expense. That is my belief - you may or may not agree. THAT is what irritated me the most about this situation.