188 documents showing 181–188

ONP secretly swapped its paper-machine order from corrugating medium to kraft board to salvage a technically impossible 360,000-ton output claim, while overpaying the vendor $13-14 million.

ONP claimed to own its China operating company HBOP for 16 months when it didn't, and replaced 80% of its top 10 customers while growing sales 56.5% — both flag fraud.

Muddy Waters stands by its ONP fraud thesis: the Baoding factory is incapable of producing reported output, and the 'rejected $300K research fee' vendetta narrative is fabricated.

Muddy Waters reaffirms ONP is a fraud: SAIC-filed PRC financials, impossible equipment claims, and bogus acquisitions contradict ONP's SEC filings; Strong Sell.

Orient Paper is a fraud — revenues overstated 27x in 2008 and ~40x in 2009, assets inflated 10x, ~$30M of investor raises misappropriated; fair value under $1 vs. $8.43.

Lehman is using fair-value accounting tricks to hide CDO losses and inflate Level 3 marks; the firm is over-levered, opaque, and needs to recapitalize before the Fed has to step in.

Lehman quietly disclosed $6.5bn of previously hidden CDO exposure but took only a $200m write-down

Allied appears to flout SEC fair value rules by using SBA-style accounting to overstate NAV