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"The China Hustle" is a documentary film released in 2017 that explores the financial fraud and corruption in Chinese companies that are listed on American stock exchanges. The film follows the stories of several investors who have lost their life savings after investing in these Chinese companies, which were found to have fraudulent financial statements and business practices.
The film sheds light on the practice of reverse mergers, in which Chinese companies acquire a defunct or inactive American company, allowing them to bypass the regulatory scrutiny that would otherwise be required for an initial public offering (IPO). The film suggests that many of these Chinese companies have engaged in fraudulent activities, such as inflating revenues and assets, to attract investors and raise capital.
The film also examines the role of investment banks, auditors, and regulatory agencies in facilitating these fraudulent practices. It highlights the lack of transparency and accountability in the US stock market and raises questions about the effectiveness of regulatory measures in preventing fraud and protecting investors.
Overall, "The China Hustle" is a thought-provoking and eye-opening documentary that raises important issues about financial fraud and regulatory oversight in the global financial system.