Anonymous faction alleges China farming fraud
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Hacking group turns to equities analysis, producing detailed report alleging widespread fraud at Chaoda Modern Agriculture
A group calling itself Anonymous Analytics has published a detailed report into the business activities of Chinese farming giant Chaoda Modern Agriculture, accusing the company of widespread fraud.
Taking the tone of equity analysis, the report cites financial documents, statements from company directors and "certain information ... we have decided to withhold". It alleges that Chaoda mislead investors, used company funds to enrich its directors and even tricked Nobel-prize winning scientists into giving their endorsement.
The report carries a disclaimer that states "while we have made every effort to ensure that the information contained in this report has been obtained from reliable and legal sources, we do not represent that it is accurate or complete and should not be relied upon".
Chaoda was first accused of accounting malpractices by Chinese publication Next Magazine back in May, but denied the allegations. China Daily reported earlier today that the comapny is under investigation by regulators in Hong Kong, triggering a 26% drop in its share price.
The sophistication and detail of Anonymous Analytics' report stands in contrast to most activities associated with Anonymous. The loosely organised hacking group, which anyone can 'join', is best known for denial of service attacks and website hacks.
Anonymous Analytics' website says that the faction has "moved the issue of transparency from the political level to the corporate level. To this end, we use our unique skill sets to expose companies that practice poor corporate governance and are involved in large-scale fraudulent activities".
