#CyberFLASH: Anonymous offshoot claims it has uncovered ‘one of the largest stock market frauds ever conceived’

anonymous-analytics

Anonymous made its name as a “hacktivist” collective, meting out its own form of vigilante justice to governments, religious organizations and anyone else that had rubbed its members the wrong way — from companies like MasterCard and Sony to child pornographers. But on Tuesday one of the group’s divisions shook up traders when it issued an analyst report that seemed to be more about short-selling shares than about enforcing community justice.

Anonymous Analytics may be a comparatively less-flamboyant branch of the controversial hacktivist posse, but it has the ability to move markets. Following what it called extensive due diligence and field research, it went public with claims it had uncovered “overwhelming” evidence that Chinese lubricants maker, Tianhe Chemicals Group, “is one of the largest stock market frauds ever conceived.”

In a 67-page document posted on the Anonymous Analytics website, the group alleges that Tianhe, which went public earlier this year on the Hong Kong stock exchange, tried to burnish its image through a range of illegal or unethical practices, such as creating “fake” regulatory filings, failing to disclose that some of its biggest customers were related parties, and overstating profitability.

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