WASHINGTON ( TheStreet) -- A high-ranking securities regulator made the most extensive public statements yet about allegations of rampant fraud among hundreds of small Chinese companies that have raised capital in the U.S. in recent years through a "backdoor" process called a reverse merger.In a speech in Washington on Monday, SEC Commissioner Luis Aguilar warned, however, that it will likely prove difficult for investors to recoup damages even in cases of clear-cut wrongdoing.
SEC Commissioner Takes Aim at China RTOs
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