China Dasheng Biotechnology Co (OTC:CDBT) Stock In Focus After Recent News
China Dasheng Biotechnology Co (OTC:CDBT) has transport assets and operations. The company in Feb 2022 had said that account managers in transport operations at Acacia Ridge, Queensland facility had highlighted a number of red flags pop up and a quick “helicopter snapshot”2.
Trading Data
On Wednesday, CDBT stock ended flat at $0.0328 with more than 100 shares, compared to volume of 5.55K shares. The stock moved within a range of $0.0328 – 0.0328 after opening trade at $0.0328.
It was identified that accounts and operations manager Cameron James Smith was engaged in illegal activity. The company in December 2021 had said that Smith contacted through phone, mail, and other methods, both medium and large clients of Roadbees Transport Pty Ltd. He had communicated that the bank accounts of Roadbees Transport Pty Ltd were “hacked and compromised.”
Smith had then instructed the clients to make payments into personal accounts. He has since deleted all emails and resigned from his position and has not returned any funds deposited into his personal accounts.
The management met with clients and shared information regarding impropriety. It was brought to an end after tabling the details before the Queensland Police for further action and review. The police created a report under QP – 0125A and are now under investigation. Bank accounts of Smith have been accessed by the police and they confirmed the allegations of impropriety.
Sonny Nugent, CEO of Roadbees Transport Pty Ltd said that the accounting systems implemented in Roadbees Transport Pty Ltd were able to “red flag” Cameron James Smith’s embezzlement.
