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Orient Paper, Inc. Message Board

  • phillydog04 phillydog04 Sep 20, 2010 9:36 AM Flag

    Seasaw 6499's latest rant

    Seasaw had a little difficulty sleeping last night, and fired off a rather angry posting in which he discussed the Satyam and Enron frauds and audit failures. He asked me why I couldn't see the parallels to the ONP situation. The answer, my sleepy Seasaw, is very simple, perhaps even for someone as illogical as you. There is crystal clear evidence of the chairmen of Satyam and Enron, Ken Lay and Ramalinga Raju, respectively, profitting greatly from their frauds through huge stock sales prior to detection. There have been no comparable insider stock sales by ONP management. Greed is a powerful motivator, Seasaw, as evidenced by Enron and Satyam and several other known frauds. I am not aware of any massive frauds in which the perpetrators didn't profit from them. Let me pose two questions to you, Seasaw:

    1)Please inform the board of any large frauds in which there were no insider sales in the months before detection.

    2)Since the accumulation of wealth cannot be the motive for the alleged fraud at ONP, since there have been no significant sales or exorbitant salaries paid, please enlighten us with your theories as to why management has bothered to alter the financial statements.

    We will eagerly await your replies after (if?) you wake up.

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