Suntech has been under a cloud since July, when it said it suspected that €560m ($724m) of German government bonds pledged to it as a security in connection with an Italian solar investment may not exist.
Suntech told its investors that its own enquiries confirm that suspicion, and that it has been the victim of fraudulent activity.
That will result in the Chinese group needing to post a guarantee obligation of its own of between $60m and $80m, rather than the $3m originally recorded on its books.
“The
