Let's wait and see what ASIC have to say, but most of these guys are offshore residents, hard to get a Commonwealth agency, federal police, ASIC or ATO etc to freeze bank accounts offshore, unless its terrorism funding. Even possible that cash be in the British Virgin Isles now, Australia have no authority there.
ASIC have probably been watching this Chinese based IPO and a whole raft of other underperforming IPOs for some time and have finally called them to task. Normally ASIC is too late to save shareholder funds, you have too understand that there could be as many as 500 dodgy listed companies on the ASX, all they can do is put a finger in the cracking dam wall.
If CDC is delisted, there are civil actions shareholders can and do take, but given the company straddles more than one country , investigators would have to work on the ground , possibly in mainland China. Not sure if your aware of it, but I've been told investigating a matter in China, is a very difficult . Sorry, but it not a good scenario.
CDC Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
