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Carson Block Bets That a Nasdaq-Listed Chinese Internet Stock Is a ‘Fraud’

By Annie Massa  and Erik Schatzker
December 20, 2017, 11:37 PM GMT+8 Updated on December 21, 2017, 1:51 AM GMT+8

Prominent short seller Carson Block said he’s now targeting China Internet Nationwide Financial Services Inc., a Nasdaq-listed stock that went public in July.

The chief investment officer of Muddy Waters Capital called the Beijing-based company “a fraud” in a report Wednesday. While China Internet Nationwide Financial Services says it makes money from lending, Block said almost none of its business is real and the only person taking out loans is the chairman, Jianxin Lin.

“Just in the name, the only thing accurate is China,” Block said in an interview on Bloomberg Television. “There is nothing internet about it, there is nothing nationwide about it, and from our vantage point, it is a fraud and a total zero.”

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