After almost a year, the OSC (Ontario Securities Commission) has finally admitted that Muddy Waters was correct. Sino Forest (TRE CN) aka Tree-X was a massive fraud. Read more in a Financial Post article here.

Congratulations to Muddy Waters for exposing the fraud and not backing down. Respect is due to John Paulson, who recognized the mistake in owning Tree-X, and dumped his stake after the allegations arose.

As for morons like Wellington, Richard Chandler and the rest of stuckholders who against all evidence still believed the lies, for the sake of themselves and their investors, one can only hope they learned their lesson and stopped sending Western dollars into corrupt Chinese pockets.