Friday, October 25, 2013

NQ Mobile Faces Massive Fraud Allegations

NQ Mobile, the provider of mobile Internet services which recently set up its US headquarters in Dallas, is facing massive fraud allegations, as a short seller said that 75 percent of NQ's revenue is fictitious. NQ Mobile called the allegations as "false" and that it will forcefully respond to the allegations. The allegations came from research firm Muddy Waters, which called NQ mobile a "massive fraud."