A twenty-page report asked where the trees were, and $5 billion vanished
A forestry empire built on timber plantations in China becomes a multibillion-dollar Ponzi scheme when an analyst asks: where are the trees?
A twenty-page report asked where the trees were, and $5 billion vanished
This episode explores the rise and sudden collapse of Sino-Forest Corporation, a Canadian-listed company that claimed to manage vast timber plantations in China. It delves into how a single report challenged years of audited financial statements and brought down a celebrated forestry business.
Company: Sino-Forest Corporation
Market Capitalization: $5 billion (peak)
Date of Report…
The skinny
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