Ebix (EBIX -22.9%) is "not a Chinese fraud, but a house of cards nonetheless," a newsletter...

|About: Ebix Inc (EBIX)|By:, SA News Editor

Ebix (EBIX -22.9%) is "not a Chinese fraud, but a house of cards nonetheless," a newsletter claims, citing several factors from a history of auditor turnover and accounting red flags to a "controversial CEO [who] appears to demonstrate a history of misrepresentation." Shares, which had hit 52-week highs this morning, plunge 20% in the past hour.