May 22, 2012 / 4:13 PM / 6 years ago

OSC charges Sino-Forest, former execs with fraud

TORONTO, May 22 (Reuters) - The Ontario Securities Commission, Canada’s most powerful securities regulator, laid fraud charges on Tuesday against Chinese forestry company Sino-Forest Corp and some of its former executives.

The charges come nearly a year after a short-seller’s allegations that the then-Toronto-listed company had exaggerated the size of its forestry holdings in China.

The OSC alleged Sino-Forest and members of its overseas management engaged in numerous “deceitful and dishonest courses of conduct” connected with the purported purchase and sale of timber in China. It also alleges certain former company executives attempted to mislead the OSC’s investigation.

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