The US Citizens (Investors) Should Be Reimbursed For Scam Stock Losses
I read the list of the scam stocks listed on US exchanges from China and it was alarming. Most have folded and left shareholders with nothing. All that money went back to china to stay. Literally, billions have been stolen and the SEC allowed it.
Stocks like XING, QXM, APWR and almost 50 others have all folded or are listed for pennies on the dollar. American brokerage firms listing these scams made money but the investors were fleeced.
If the US can go after scams here in the US (like Madoff), why can't they get investors reimbursed by the Chinese?
I'm not sure if ANY of these China stocks are legit. So far, they all seem to have some issues. The SEC should step in and take action to defend the US investors.