Wuzhou International engaging in Scam related activities
January 29, 2018: There are current concerns surrounding Wuzhou International Holdings Ltd surrounding its functions. The company is suspected of engaging in fraudulent business activities. These include many harmful actions as moving funds illegally, blacklisting business partners and holding funds that those partners are supposed to get. These actions have made it to where any stock investments one might try to make with Wuzhou could be harmful and potentially illegal to get into.
Wuzhou has been operating many businesses within China. Some of those businesses are currently being subjected to various lawsuits. One of these businesses in Wuxi recently charged massive rent totals at the Columbia Mall. These rents came about even after the tenants completed their agreements on the terms, thus making it harder for people to afford it properly. More than six hundred business owners were harmed by the endeavor from the group.
Mr. Shu Ce Cheng, the CEO of Wuzhou, says on the website that he holds an EMBA from Tsinghua University in China. He also says that he went to Victoria University in Switzerland and earned his graduate degree. However, he has also stated in some of his stories that he had been unable to get a proper education and was not able to get the money that he wanted for studying. This leads to concerns that he is contradicting some of the things he has been saying.
Also, there are worries that Shu is unable to speak English well. He claims to be well educated, but his struggles with the English language give the impression that he is hiding his true work from others.
The company is currently offering stock and trying to make it visible and appealing to investors. But even with that, there are concerns that the stock might not be as useful as what someone might regularly think it could be like.
The general worries surrounding Wuzhou are significant as Shu is trying to keep him looking as strong and professional as possible. But the greatest concern is that thing group may be trying to take other peoples’ money and use it for its own needs.
Contact: Wesley Wang