{"id":24408,"date":"2011-08-31T08:13:07","date_gmt":"2011-08-31T12:13:07","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=24408"},"modified":"2011-08-31T08:36:49","modified_gmt":"2011-08-31T12:36:49","slug":"paulson-hedge-fund-drops-sino-forest","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2011\/paulson-hedge-fund-drops-sino-forest.html","title":{"rendered":"Paulson Hedge Fund Drops Sino-Forest"},"content":{"rendered":"

New York (HedgeCo.net) – According to regulatory filings a former Sino-Forest Chief Executive Officer and other insiders sold C$81 million ($83 million) of shares since the end of 2006, Bloomberg reported this morning.\u00a0Hedge fund firm Paulson & Co., said they have sold their shares after loosing\u00a0C$462 million in June.\"\"<\/a><\/p>\n

“Former CEO, Allen\u00a0Chan, who stepped down Aug. 28 after the Ontario Securities Commission suspended trading in Sino-Forest, sold C$3 million of stock, the filings show. Kai Kit Poon, with whom Chan founded the tree-plantation company in 1992, sold more than C$30.1 million. Chief Financial Officer David Horsley sold C$11.2 million of shares. Simon Murray, a director and also chairman of Glencore International Plc, sold $10.8 million.” Bloomberg reported.<\/p><\/blockquote>\n

Canada’s securities regulators said that Sino-Forest, \u201cknew or should have known\u201d that their actions perpetuated a fraud.<\/p>\n

“The company no longer qualifies to be a constituent of the benchmark S&P\/TSX Composite Index. Sino-Forest will be removed from the index at zero price after the close of trading on Sept. 16.” \u00a0S&P said.<\/p>\n

Alex Akesson
Editor for HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a> is a premier hedge fund database<\/a> and community for qualified and accredited investors only. Membership in HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.net) – According to regulatory filings a former Sino-Forest Chief Executive Officer and other insiders sold C$81 million ($83 million) of shares since the end of 2006, Bloomberg reported this morning.\u00a0Hedge fund firm Paulson & Co., said they […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,11,12,3],"tags":[],"class_list":["post-24408","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedge-fund-fraud","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=24408"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24408\/revisions"}],"predecessor-version":[{"id":24410,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24408\/revisions\/24410"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=24408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=24408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=24408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}