DeLong criminal offence in the first case and non-Crime Commission holds reins

Tangwanxin said: "there is no manipulation of the stock market DeLong. "Tangwanxin also said:" I have no power. ”

7 June 2005, in Chongqing high people's Court trial lobby on the first floor, all attention "DeLong criminal first case" in this trial.

No legend mysteries, but certainly have legendary does not make sense. $ Involved 208.89 billion of securities and Cheung of seven executives stood in the dock, the "I don't know," I do not know "becomes yours.

The purpose of this case peoples ask or witness name appears tangwanxin.

Tangwanxin testimony also confirmed, in his arrangements, Cheung securities incorporated DeLong capital operation system.

Tangwanxin Frank, perhaps admirable, but vague soaked a dealer "had to die" desolation. However, a rather deep understanding on DeLong's issued securities reporters another class of feeling: "makers died, market also died. ”

DeLong: die too early?

Luliang, Luo, tangwanxin today can be regarded as China's stock market since 1999 "5.19" blowout prices, "Zhuang Gu era" of celebrities.

However, Lu, Lo, tangwanxin do not like publicity, just silently runs its own troika: Xinjiang tunhe, Xiang torch (information market Forum) and alloy investment (information market Forum).

In 2001, the Commission started liquidation zhuanggu billion on technology (information market Forum) and in section invasive. At this point, showing its tangwanxin is characterised not only to avoid the Commission of investigation, also intensify their efforts to continue to build your own huge funding machine.

This year on 5 June, the former Chongqing securities, gold new trust funds established Shanghai Union economic strategy Management Research Center co., Ltd. (hereinafter referred to as the Union) was established in Shanghai. 30 August 2002, the Union Centre was renamed as Shanghai Union Management Research Center co., Ltd.

From the date of the establishment of the Centre, the Union centres in the whole system is built financial Empire centre stage. Then, in control of the Cheung securities, hengxin securities, jianqiao securities, zhongfu securities, three rivers securities, Islamic trust and Investment Corporation, seven main financial institutions, DeLong has been changed to a no-compromise, head of the "financial monsters".

The Union command, the "foot" of the tiller to delegate management of funds for flowed into the madness of absorption of Calderón-stock of blood vessels.

Then how can also suppress tangwanxin resist their restlessness, where there is a significant investment concepts, where there will be built. From deep development (information market Forum), tuopai group, Huiyuan, Pamir Spa, QFII "Citi" to Chongqing automobile, Hayao, Shenyang hejin, in order to retain large financial clients, almost frantic tangwanxin for expansion of the concept of the show.

Everything is in order to create a false impression: DeLong had the money, however pretend money to lend money, this is the only objective.

Reporter asked a participated DeLong nancial negotiations of customers, he has thoughtfully said: "the strength to DeLong believable, DeLong is attractive of interest. Are units of accounts in money, idle is idle, throw in the Bank than lend DeLong. ”

Everyone knows that lend DeLong play but the brave one game, or a road of no return. DeLong's debt is like a snowball, snowball. And to everyone when it stops, it will bump the collapse of the Empire DeLong.

DeLong money game rules, all of the expected profit is built on the zuozhuang stocks. The way ahead is long, but the bear dropped more than the Chinese yin of the stock market is back again, DeLong, there would be no profit. Hang on to the next "blowout" is perhaps the only hope tangwanxin.

In the end, has been in prison for tangwanxin saw his dream of a "blowout" market — June 8, in the case of trial Cheung on the second day, the stock market ushered in the years later another blowout prices.

Chenjiulin said, "If you give me 5 dollars, I'll win back"; maybe you will say, if tangwanxin again quite a year, pay to the market, DeLong does not fall.

SFC: "no to terror"

Crash 2004 DeLong, reporters asked the SFC Legal Department of an official, the answer is that the Commission is organizing investigated.

According to the officials, as a result of the Commission on the administrative punishment of limited powers, many violations even if seen, nor the ability to investigate. Often the SFC has found that, in communication with other law enforcement authorities, such funds have been transferred, the company also used the zuozhuang are cancelled, has long been abandoned. Cannot shut down capital account, there is no jurisdiction for SFC can only watch makers have to do whatever they want.

Congenital defects of the system so that the Commission simply doing some things not to, continuing the strong regulatory adjustment, in order to constantly improve the stock system and depressed stock market enthusiasm. Through the "no" to squeeze net stock market bubble, to cleanse the market, the value returned.

Facts have proved that the Commission of this trick really worked, now that catch you, let yourself slowly exposed. So a strong regulatory, we hear most is the market maker's pour away. Some long entrenched stock market "irascible Zhuang" ultimately support, fell to the money chain fracture, which will include DeLong such a powerhouse.

The last two years is also a violation of security and nancial exposure maximum, the SFC and the makers of the game and eventually to the Commission's inaction would end up winning.

DeLong is just one case, all the operation idea DeLong is based on the secondary market speculation stock profits. Stock market slump, DeLong can't make money commitments of return will not be achieved.

Tangwanxin: Cheung case witness?

Cheung case

The trial process, the most concerned about or courtroom tangwanxin, he is a witness to appear. But just a testimony, I do not appear.

As the saying goes, "working", this time at Peter Cheung executives have out in court, the President of the gun go Korea new forest directly raised in this case tangwanxin ，Youlian and is the principal.

Press in the present case before trial had a telephone interview over Korea new forest law, Chan dare according to him, the present case he did was guilty of the defence, not pleaded.

Therefore, the defence's intentions are clear, pulling out DeLong and tangwanxin himself reduced to an accomplice to mitigating.

Indeed, compared to the core of tangwanxin, DeLong layer, these Cheung of mules have reasons to call. They are completely under the Act.

South Korea-new forest, as Shanghai friendship of a stone, Cheung securities never having independent qualifications, as President, shall not be entitled to delegate the management asset management services and investment operations in May 2003, do not even know this business of the company. He was later informed that all projects are undertaken by the Union to develop and issue directives.

In October 2002, China Securities Regulatory Commission for the securities issued rectification Cheung notification also states clearly that: "the place of registration of securities exist Cheung and management layer separation phenomenon, business headquarters and major decision makers in Shanghai, Chongqing, the only one Vice Chairman of the Board of Directors is responsible for the contact. "To do this, in 2003, the Commission is also below the management of condemning Cheung and management layer out of the question.

Back in 2001 in kechuang case, prosecutors will "luliang total trader" Ting root behavior compared to a kitchen knife to luliang "delivery", here is some relevance, Ding was in court grievance and said: "everything is controlled by lvliang."

However, in the present proceedings, the final of this pleading for only sympathy votes, Don's witnesses does not change his trial is another proceeding. From the Supreme People's Court, the Supreme People's Procuratorate personally sent people to listen to. Next DeLong trials may be China's stock market "Zhuang Gu era" of the century.

Commission reply: the crime of crime and non-critical

Court of another focus is the nancial problems. Cheung is there business asset management business, is a crime and non-crime problem. In other words, Cheung operating asset management business qualification, Cheung's nancial is illegal, it is not a crime; otherwise, constitute a crime.

However, the current prosecution insisted that "the crime of illegal absorbing deposits from the public," the defence finds himself with the asset management business. Crime can be identified, a reply has become a crucial evidence.

Court, prosecution produced China Securities Regulatory Commission, Ministry of public security Ministry reply agency Crime Investigation Bureau of a reply. Reply, 18 March 2002 under the China Securities Regulatory Commission issued securities of the Cheung securities business license includes asset management business. But in September 2003, license renewal, cancel this business.

This means that Cheung from March 2002 to September 2003, commissioned by financial services does not constitute a crime, but after that time, you will become the nancial conviction.