World marketing comments (http://mkt.) "Lanzhou 60 million private placement events" seemed to Lanzhou Railway Administration (hereinafter lantie) openly acknowledged in gradually into the dull. But involving 60 billion State breaches trade stocks of large case but recurred.
50 million move 37 billion
28 May 1998, Gansu taixing investment consulting Corporation (taixing) was established, legal representative Jo Ming (lines Yang Xiaodong kana). Is this borrowing $ funds incorporated small companies, in six years as a trader billion sums of platform.
In October, for the expansion of capital, Gansu Securities Finance Director Shen, Gordon and Yang Xiaodong collusion, by position, provide a copy of the Gansu securities 2000 million custody "national debt", and as proof of mortgage funds for lantie 20 million Yuan.
The two parties signed the purchase of bonds in the agreement, and then realized the stock market.
"This is the State-owned enterprises since 90s nancial misfiring. "Taixing people said.
In fact, in 1998 and 2001 in four years, this kind of way nancial frequently appears, and then State-owned enterprises and domestic securities company gradually coming out huge losses are directly associated.
Lantie chief accountant Zhang Ning became a key figure in this transaction, and become the next lantie funds out of the main charge. Zhang graduated from Northern Jiaotong University, Lanzhou railway administration work for many years, successive reclassify, financial director. At the end of 2001, Zhang Ning as lantie chief accountant.
After 1998, such as investment in government bonds of outflows in lantie becoming increasingly frequent.
The then Deputy Director of lantie settlement Center in their testimony and Tung, until 2003, the company signed lantie and buy government bonds taixing Protocol 11, amount 5.2 billion (taixing investment asset management division of Tao means peak another think 7.4 million).
The majority of funds are investing in the stock transfer.
Cooperation, after use and taixing Gansu Lanzhou railway settlement Center signed an agreement for the sale of State bonds huge delegate. But lantie never on qualification, taixing investment performance capacity, operating status of the investigation.
Fill a curse
And to delegate management of sale lantie bonds more than taixing investment company, another important in connection with the company is the only Asian investment (being another case).
Although unable to carefully calculate the amount of their investment, but the original lantie Financial Director, lantie settlement centre officer yongchang statement lantie total 60 billion for the purchase of bonds in the delegate. In addition to the investments taixing billion, Shanghai only Asia also have 20 billion of funds involved.
It is understood that, in 1999, has 4 billion lantie to Shanghai Wei Asian wealth management. After the 1999 and 2000, the stock market is rising lantie rewarding.
Taste the sweet taste of lantie thereafter the number of additional investment with alacrity.
But in July 2001, A unit of the bear market. 2004 and Shanghai Wei-hype of stock collapse. Its control person fled, subsection weiwu volumes involved in Gansu securities also owes library issues on the brink. Lantie funds face huge losses, and Yang Xiaodong Zhang Ning, and Gansu securities General Manager to discuss health and others set by taixing investment received up, and looked forward to fanben recoup their losses.
Yang Xiaodong set forth to do another need capital to 30 million.
The then proceeding confidently believed that Yang Xiaodong have enough add up strength. In their testimony, "because they develop the Rescue Unit programme through expert proves very reliable, and feel confident that this will provide them with funding. ”
Therefore, may 18, 2004, significant investment to taixing lantie 22.5 billion. Signed an agreement to lantie is 6%.
Although such funds to invest in bonds to finance, on behalf of the Commission, but obviously cannot reach the above purchase Treasury bonds, investment stock become inevitable.
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