The situation is that an anonymous letter claiming that Silvercorp Metals, a Chinese mining company based in Vancouver, committed fraud while reporting their profits/losses for 2010. They are accused of reporting a profit in the United States for 2010 while reporting losses in China for 2010. The ethical dilemma here focuses on lying. Silvercorp Metals has been accused of lying, but are denying these claims and are posting reports on the internet proving these claims false. The ethical situation here is that lying in business is not good as it can provide ways to escape paying certain fees or taxes and becoming eligible for special circumstances that the company should not normally be eligible. That is the ethical dilemma if Silvercorp is indeed committing fraud. On the other hand, the ethical situation is that the creators of the anonymous letters are committing fraud themselves to discredit Silvercorp to knock Silvercorp down a level which puts them to some unknown advantage, which is bad business as they are gaining an advantage through lies and deceit. Either way, the situation is full of bad ethics that can sway either way depending on the outcome of the investigations being done by the FBI, and other government agencies.

http://www.businessweek.com/news/2011-09-14/silvercorp-denies-report-on-sales-says-fbi-seeking-authors.html