Short seller sounds alarm on SenseTime revenues, citing smart city decline and fraud

SenseTime is defending itself from accusation of fabricating revenue, or at least a lack of risk management, by short seller Grizzly Research LLC, ABC News reports.

A report from Grizzly refers to a pair of court cases that allegations of “revenue round-tripping” have emerged from. The practice allegedly involves investments in other companies by SenseTime in return for purchases agreements in which money comes back to SenseTime “without real delivery of product.”

The firm also says it found “several” related …

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