Puda Coal Now Off 33% (PUDA)

Puda Coal, Inc PUDA shares continue to fall, as this is the latest Chinese company that has been flagged a fraud. At last check, shares were off $2.66, to $6.44, a loss of 29.2% on more than 17 million shares. The company put out a press release just a short while ago that it is looking into the allegations that the company Chairman, Mr. Ming Zhao, made improper trades in the company's stock. Puda Coal, Inc., through its indirect equity ownership in Shanxi Puda Coal Group Co., Ltd., supplies metallurgical coking coal to the industrial sector in the People's Republic of China.