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Chinese stock scams offer foreign tech employees unlawful equity stakes in lieu of salary

2 weeks ago
Sky Canaves
nder Chinese law, foreigners cannot own shares in a domestic company that is not already listed on one of the country's exchanges. However, one law firm has seen an increase in the number of people reaching out for advice after being offered stock in place of cash.
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.