What the market watchdog discovered were not disaffected scallops keen to escape fish farms for the freedom of the Bohai Gulf. Unsurprisingly, this turned out to be a red herring, covering up accounting irregularities. The CSRC ended up netting a number of executives and Zhangzidao was fined Rmb600,000 ($87,234) this month. Its chairman has been banned from holding roles at a listed company for life.