James Li has been on the run for eight years. His crime? Forging fake purchase orders to inflate his company’s sales and dumping 93 million worthless shares on the market.
How much did James Li and his partners take in? Over a billion dollars. Where is James Li now? You can find him but you can’t catch him. He was last seen in Taiwan but can’t be extradited and, in any case, the Attorney General never bothered to charge him with forgery.
Bloomberg had this story eight years ago. It was just a bad time to put it on the back page because one of James Li’s partners was on the front page. Roll back the clock to the crash of 2008 and the Madoff Ponzi scam and consider what would have happened if James Li and Citicorp were caught with a truck load of forged documentation they were trying to pass off as authentic and legitimate sales transactions.
This is all a matter of public record and the facts are easy enough to verify. Google should do the trick. James Li and Citicorp engaged in massive forgery and egregious fraud and tried to cover up the evidence of the Syntax-Brillian Ponzi scam by filing for Chapter 11 protection in Delaware’s infamous Bankruptcy Court.
When you’re trying to dress up a Ponzi scam in the garb of a legitimate company that can be reorganized, it takes more than two to tango. So you have to throw in the usual suspects – a diabolical Greenwich hedge fund managed by two ex-Goldman Sachs sharks and a legion of lawyers from the most…