Paulson exits scandal-hit firm as concern mounts about China forestry plays
Paulson & Co. has exited its stake in Sino Forest following fraud allegations against the Chinese company. It is the second such firm to be implicated in a scandal after China Forestry, which is backed by The Carlyle Group and Partners Group, was suspended from trading in February over potential auditing irregularities.
In a statement released by the hedge fund, John Paulson cited uncertainty over Sino Forest's public disclosures and financial statements, which are currently the subject of an independent investigation....
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