Why CCME Fraud Claims Don't Hold Up

Marty Chilberg submits:

I'm currently long China MediaExpress Holdings (CCME). But before I was, I heard the whispers of fraud, which have now become flat out screams. As a result, I spent several hundred hours combing through documents, message boards, reading articles and building my own model of the company which I ultimately put on line at investorshub.com for other potential investors to review.

I knew there was a community of bears that were casting doubt on this company's financials. I read the bullish articles by Chimin Sang that were posted here and here on SA last summer. I also talked to a hedge fund manager who mentioned during our chat that Chimin had changed his investment thesis on the company and was ready to publish a negative article. That was 2 months ago. Again to put it in context, I was not yet invested in the company, still doing my own research to determine whether to put any money to work in the name. This period of research led to my conclusion that the

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