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Anonymous
Whether you are a consumer or investor, take note of these! Be careful with your money (in using LightInTheBox's services and its MLM memebership scheme) and investment (https://www.nyse.com/quote/XNYS:LITB). Stay away from LightInTheBox! It is an elaborate scam! Though listed on US NYSE https://www.nyse.com/quote/XNYS:LITB, it is based in China. And run by PRC nationals. Given the current geopolitical situation against the backdrop of China (internally with Chairman Xi's target- recall Alibaba, Tencent) and (externally US sanctions against China and 2022 mid term Congress (Senate and House) elections are round the corner, any transactions via LightInTheBox will end up in your money being gone with the wind! And the U.S. Securities and Exchange Commission has been alerted that there are problems with the accounts, viz consolidated accounts. Look at the audit by its "auditor". See who the auditor is, the supposedly at arm's length audit committee; and the audit statement issued. If you follow the money, LightInTheBox is a fresh front (incorporated a LIMITED liability company) for Ezbuy (ezbuy.sg based in Singapore but it has operations (failing) in other countries besides Singapore, eg Malaysia, Taiwan, Pakistan) via a so-called M&A acquisition move. Technically, Ezbuy is acquired by LightInTheBox; however the CEO and senior management of Ezbuy (who are PRC too) became the senior management of LightInTheBox! These are the people who run Ezbuy to the ground- plagued with consistently and deteriorating financial performance. Ezbuy failed in being listed in Singapore SES and failed to be incorporated as a limited liability entity. Ezbuy (a Taobao agent) is exiting the market surreptitiously while in the meantime, fleecing and milking customers. Check out Facebook groups, Reddit groups, etc on how customers have their money scammed. It has gradually removed her PRIME membership programme, removed her Ezshop (Buy For Me) service, making Ezbuy an empty shell. Customer service (no more phone in customer service, only emails and chats) are manned ONLY by part time staff (based in other countries but worked for Ezbuy Singapore). In fact, in terms of manpower hiring, payroll, etc, it is under investigation by the local authorities Ministry of Manpower for violating foreign manpower and even local staff hiring. If you go to Chinese websites, you will find out that LightInTheBox has a run in with the Chinese authorities too after it has been reported to the ???????. So be careful with if you want to use services of LightInTheBox (inc www.miniinthebox.com and aforementioned ezbuy.sg) or invest in her shares! (For consumers, you can now buy directly from Taobao itself using
3 years ago
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