Jack Kreuz's  Instablog

Jack Kreuz
Send Message
Respect for the rights of others means peace.
My blog:
Kreuzroads
  • Apple Pays $60 Million In Extortion Fees To Chinese Blackmailer 0 comments
    Jul 2, 2012 4:45 PM | about stocks: AAPL

    Yang RongshanYang Rongshan, a Taiwanese chiseler, extorted 60 million dollars from Apple with the help of the Chinese state. Earlier this year, at his request, the Chinese state ordered iPad distributors to stop selling them in China and actively blocked iPad sales. Thus, Apple was intimidated into unwillingly pay the extortion fees to Yang's company, which last reported 500 million dollars in annual sales.

    China is famous for promoting embezzlement of foreigners' assets, and aiding and abetting Chinese larcenists. Not so long ago, Yang defrauded foreign investors through his Bermuda-incorporated company called Proview International Holdings, which was suspended from trading on the Hong Kong exchange after the 1 billion dollar fraud became evident. As in other Chinese stock frauds, the Chinese state will ensure that the embezzled assets permanently remain in the hands of the Chinese fraudsters, because, in China, larceny is a virtue.

    Stocks: AAPL
Back To Jack Kreuz's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.