Naibu's disappearing-director scandal reminds us why we need friends on the board

The bizarre goings-on at Chinese sportswear manufacturer Naibu are a warning to investors, says David Thornton. Do your homework before handing over any money.

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Naibu's non-executive directors have been unable to contact the company's senior management

Over my 30-odd years as a professional investor, I've come across quite a few frauds and spectacular company failures. But this is the first time I remember top management disappearing.

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