Fraud allegations against short-seller dismissed in Silvercorp case
KEITH BEDFORD, 14 May 2015
A Canadian securities panel has dismissed fraud allegations against short-seller Jon Carnes, who was accused of manipulating Silvercorp Metals Inc.’s stock. The dismissal by the British Columbia Securities Commission panel is the latest twist in a prolonged affair that saw Silvercorp stock drop 90 per cent, landed a Canadian researcher in a Chinese jail and put Mr. Carnes through a lengthy regulatory battle. In 2013, staff at the B.C. securities regulator accused Mr. Carnes of committing fraud when he anonymously wrote negative reports about Silvercorp while building his short position in the Vancouver-based mining company.
