China Medical Technologies controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2017
Former executives indicted over alleged investor fraud
The U.S. Department of Justice alleged that former CMED executives diverted more than $400 million from investors through securities-fraud and wire-fraud conspiracies. The charges are reported as allegations rather than a final conviction.
2017
KPMG audit-records contempt proceedings
CMED liquidators pursued Hong Kong contempt proceedings against KPMG partners over the alleged failure to provide Chinese working papers and related records required by a court order.
2012
Liquidators investigate alleged insider fraud
After CMED’s collapse, liquidators alleged that creditors and equity holders may have been harmed by a multiyear fraud involving missing or fraudulently transferred assets and referred allegations to law-enforcement bodies.
2009
Management-misconduct allegations and internal investigation
An anonymous letter alleged illegal and fraudulent activity by management since 2007. CMED’s audit committee retained Paul Weiss to investigate, and the resulting records later became the subject of court-ordered discovery.