𝗡𝗲𝘄𝘀𝗹𝗲𝘁𝘁𝗲𝗿 𝗲𝗱𝗶𝘁𝗶𝗼𝗻: http://aconomics.com
Today we're going to take a look at the latest from Hindenburg research. Their report on Tecnoglass (TGLS) has taken over 30% of their market cap.
The accusations go from drug cartel connections to fraud.
- Tecnoglass is a Colombia-based producer of glass for residential and commercial buildings founded in 1984 by two brothers, Jose Daes and Christian Daes, who currently both serve as directors and CEO & COO, respectively.
- In 1996, U.S. criminal prosecutors filed charges against Jose and Christian Daes, the current CEO & COO of Tecnoglass, alleging the two served as “managers and operators” of the Cali cartel, helping smuggle weapons and more than 200 tons of cocaine, and laundered money. Warrants were issued for CEO Jose Daes’ arrest and he was declared a fugitive.
- In 2004, Tecnoglass’ current CEO Jose Daes was shot in the head and neck during a botched assassination attempt, later attributed to a right-wing paramilitary warlord who believed Daes was taking too many corrupt contracts from the local mayor.
- In December 2013, Tecnoglass went public via a SPAC, cycling through 3 auditors within roughly a 1-year span. Auditors specifically flagged material weaknesses relating to identification and reconciliation of related party transactions.
And much more.
𝟬% 𝗰𝗼𝗺𝗺𝗶𝘀𝘀𝗶𝗼𝗻 𝗼𝗻 𝘀𝘁𝗼𝗰𝗸𝘀: https://med.etoro.com/B15707_A106725_TClick_SBuy%200%20comission.aspx
▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬
0:00 - Tecnoglass TGLS intro
3:15 - Hindenburg Report
4:22 - Cali Cartel Connections
5:21 - Tecnoglass CEO assassination attempt
9:20 - Corporate Shell Entities
23:10 - Chicken Farm
26:50 - Tecnoglass response
𝗦𝗶𝗴𝗻 𝘂𝗽 𝘁𝗼 𝗮𝗰𝗼𝗻𝗼𝗺𝗶𝗰𝘀 𝗡𝗲𝘄𝘀𝗹𝗲𝘁𝘁𝗲𝗿:
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