Stock Advisor Touting Huge Returns Is Accused of Duping Investors

(Beijing) – A team of stock pickers at a major brokerage once bragged that if investors made the same moves it did in mock portfolios last year, they could enjoy returns of more than 125 percent.

Too good to be true, right?

Right, says an employee of the same brokerage, Hongyuan Securities Co. Ltd., the team works for. The source said Jinhongyuan, the investment advising division at Shenzhen-listed Hongyuan Securities, fiddled with its mocks without the knowledge of investors on the orders of Tang Yonggang, Jinhongyuan's director.