Having had high regard with Jim Rogers, and knowing the great deal of time he spends in china, making this whole FAB issue all the stranger. Jim is no dummy. But having read the reports on FAB and by this team of reporters, who have uncovered corruption within china's dubious business world before, clearly we all know china is not as transparent as US publicly held companies. Those reports on physically visiting those flagship kiosks, as well as supply vendors makes you wonder what is really going on here. Jim Rogers makes it all the more strange. The guy does have a sterling reputation IMO. The delay by FAB after knowing about the information that was reported, even by a few days is puzzling considering the fallout. If proven to be true, any of it, Spencer could find himself serving Jail time. As well as being prohibited on serving on any board of any public company forever.
As CEO he has to and has signed off on all financial documents as being true. Ignorance is not a defense. And if a person is convicted of a crime like this any ill gotten gains made by anyone knowing or not can have assets frozen and or taken away by the government. Simply put if you made some money from a criminal act and with that profit and its subsequent investment all of it can be consider poison fruit from the tree and there for seized. Even if those subsequent investments are clean. How your related does not matter unless the AG looking to add racketeering to the charges. What a clusterF***. I feel bad for Jim Rogers if he had been duped, thats hard to believe but sure has me worried.
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