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vmp

13,591 Posts.

9352

21/06/17

08:33

Post #: 25395255
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Originally posted by andersonc ↑

http://www.theage.com.au/business/m...worthless-brazilian-mine-20170619-gwu2m0.html

Macquarie Group faces a major class action over allegations some of its investment advisers artificially inflated the price of a small mining company before a sudden collapse wiped out many of its investors.
The investment bank's brokers are accused of deliberately "ramping" stock in Cleveland Mining Group by playing a key role in the acquisition of a Brazilian iron-ore mine project with a potential value of $34 billion that turned out to be a worthless patch of jungle.

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Oh the greed.
But It's taken 5 years
Will ASIC be investigated too?

GXY Price at posting: $1.75 Sentiment: None Disclosure: Held
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