8 results

Former Enron chairman Kenneth Lay: short-sellers tend to get a bad press but their defenders point to their exposure of questionable practices at companies like Enron. Photograph: Dave Einsel/Getty Images

Short-sellers profit from market declines, something that has long ensured their unpopularity with politicians, regulators and chief executives. Napol(...)

President of Spanish wifi company Gowex, Jenaro Garcia, who announced on Twitter last week that the company’s accounts had been falsified for more than four years. Photograph: Angel Diaz/EPA

To many, attempting to profit from stock market falls is immoral and parasitic. Short sellers, however, see themselves as the detectives of the stock (...)


One person expecting a bear market is Marc “Dr Doom” Faber, who last week warned that the S&P 500 was facing a 30 per cent drop. Faber famo(...)

A man walks past a newspaper kiosk advertising Spanish wireless network provider Gowex in Madrid. Photograph:  Andrea Comas/Reuters

Spanish wifi provider Gowex was recently valued at €1.9 billion after a stratospheric share price rise, only to file for bankruptcy last Sunday after (...)

Gowex CEO and founder Jenaro Garcia resigned after admitting he presented fictitious accounts

The Spanish government is planning to reorganise the framework governing the country’s stock market in response to the recent scandal surrounding tech(...)

The Gowex bubble started to burst on June 1st, when US-based investment company Gotham City Research issued a report for its clients in which it warned the Spanish firm’s results were “too good to be true”. Photograph: EPA/Diego Garcia

In March, Jenaro García, then-chief executive of technology firm Gowex, received a business prize from the Spanish prime minister. “A society needs en(...)

Spanish wireless networks provider Gowex has said it will file for bankruptcy. Photo: Reuters

Spanish wireless networks provider Gowex will file for bankruptcy and said its chief executive officer resigned after admitting he presented fictitiou(...)

Spanish wireless networks provider Gowex has hired PricewaterhouseCoopers to carry out a forensic audit of its accounts. Photograph: Reuters/Juan Medina

Spanish wireless networks provider Gowex said yesterday it would file for bankruptcy and its chief executive and founder Jenaro Garcia Martin had resi(...)