Chapter 1091 This Is the Evidence

After Feng Yu's map bomb was released, Nasdaq stocks fell even faster, and many people were looking into which blue-chip company Feng Yu mentioned was making false accounts. Lewen Novels The chapters are updated the fastest

At this time, the executives of Enron Company began to panic. Others didn't know which company Feng Yu was talking about, but they knew it clearly.

These executives, at this time, used the company's internal information to speculate a lot of their own company's stocks, thereby making crazy profits. Even some executives don't hesitate to borrow money to speculate in stocks, because it's so easy to make money.

The chief financial officer of Enron also secretly set up an investment company with friends, and used the hundreds of millions of dollars raised to speculate on Enron's stock. Anyway, they are sure to make money without losing money.

Investors who bought Enron stock without knowing it will pay for these mistakes.

At this time, they were still rejoicing that the matter of Enron Company would not be discovered. So many people did not find out, how could Feng Yu find out?

Their Enron Company has been selected as the most innovative company by "Fortune" magazine for several years in a row. This year, it was selected as one of the 100 best employers in the United States. Looking at the luxuriously decorated office of the company, many people are envious .

Under these beautiful appearance packages, who can know that our company has financial problems? "Fortune" magazine doesn't even know, how can Feng Yu know?

He is definitely not talking about us, maybe it is Microsoft. After all, Feng Yu is a former director and shareholder of Microsoft. If Feng Yu hadn't discovered Microsoft's financial fraud, how could he have been kicked out of the board of directors?

Well, it sure is!

...

The reporters couldn't interview Feng Yu, so Jack had an idea and called again to make an appointment, hoping to get an exclusive interview, even if it was just a phone interview.

To his surprise, Feng Yu agreed!

The TV station immediately began to publicize this matter, and said that after the interview was over, the interview recording would be played immediately. At the same time, he began to sell reprint rights with major media to make a profit.

"Mr. Feng, hello, I'm Jack, remember me?"

"Of course I remember, it hasn't been long since the last interview, isn't it?" Feng Yu said with a smile.

"It's an honor to be remembered by one of the world's richest people and one of the most talented investors.

Mr. Feng, today's interview is mainly to ask, you said last time that among the blue chip stocks, there are companies with financial fraud, right? "

Jack yelled inside, answer yes, answer quickly.

"That's right."

Jack held back the excitement in his heart and continued to ask: "Then may I ask, which company is it?"

"Of course, it's Enron." Feng Yu replied.

He had ordered people to short sell Enron's stock, and it was in his interest that Enron's stock fell. Moreover, the sharp drop in Enron's stock price will cause investors to distrust the entire US stock market. This kind of problem has appeared in blue chip stocks, let alone other companies.

Once a crisis of confidence occurs, it is not so easy to settle.

The TV executives on the other end of the phone were all dumbfounded, which company? Enron? How can this be!

Enron's executives also claimed yesterday that Enron's stock price would double, which would bring huge returns to investors. Why did Feng Yu say today that Enron is the company that made financial fraud?

"Mr. Feng, do you have any evidence for what you said?" Jack's voice trembled a little.

"Does any of you understand finance? Then, do you know Benford's law? It means that the data obtained from a bunch of real life, the probability of the number starting with 1 is about 30%, and the number starting with 2 appears about 30% of the time. The probability is about 17.6%, and the probability of numbers starting with 3 is about 12.5%. The financial data released by Enron Company obviously do not conform to this law, so their The financial data must have been falsified!"

Jack and the executives of other TV stations looked at each other with a confused look on their faces. What is Feng talking about? Benford's law? What kind of probability problem, they don't know at all.

The director of the station is still wise, and immediately asked someone to call the chief financial officer of the TV station, and asked him to explain what Benford's law is and whether it is reliable. Don't let them report it, but it becomes a joke, then they will bear the wrath of Enron!

"Okay, I still have something to do, let's end this interview."

After Feng Yu hung up the phone, the leaders of the TV station surrounded the chief financial officer. The chief financial officer nodded. Of course he had heard of Benford's law, but it doesn't seem to be evidence, right?

So they consulted some professional financial personnel and auditing companies, and only then did they know that Benford's law has not been widely adopted, but it is indeed an effective auditing method. If the data is modified, it is very likely to be found out.

How could the TV station live broadcast the interview after the interview? It was just talk. While contacting other media to sell broadcasting rights and reprinting rights, they were planning how to record and make a program around the phone call.

Of course, if you insert some advertisements during the period, you can earn more.

...

"Feng Yu said that Enron is the company he said was a fraudulent financial company!"

"Enron's financial fraud, Feng Yu said there is evidence!"

"Enron's financials do not comply with Benford's Law, and this is the proof!"

...

Feng Yu once again occupied the headlines of many newspapers, and his recorded telephone interview was rebroadcast by many media, letting more people know.

Some people believe it, but more people still don't believe it. Many people don't even know the so-called Benford's law. Does this data really have any probability problems?

It's just that Feng Yu's words are certainly not enough to convince the public, after all, Feng Yu is not a professional financial person. However, Feng Yu also invited two famous professors from the Harvard Business School in the United States to give a written statement, proving that Enron's financial statements do not comply with Benford's Law and must have been faked!

After the articles of these two professors were published, they were quickly reprinted by many media. The two of them used their personalities and God to guarantee that what they said was true, and that Enron had indeed made financial fraud!

All of a sudden, there was an uproar.

The stock of Enron, a blue-chip stock, immediately began to fall, and all investors began to sell Enron's stock, even including Enron's executives.

They are too aware of the authenticity of this news. Once they are investigated, the facts will never be covered up.

And those who were also panicked were Citibank, ****, etc. They had frequent financial transactions with Enron, and they really didn't know about Enron's financial problems?

...

The cold is too damn uncomfortable, the whole person is boring, and lethargic~~(To be continued.)