August 8, minfa securities within the personal debt of Fujian province acquired funds to start buying. Journalists in proxy cashing Bank — Bank of individual outlets in Fuzhou, personal investor sentiment, to honour the work order.
Minfa securities "thank you" to calm
Minfa securities requires payment of personal debt 9.6 billion. "These countries have no problem. "Bank of China, a charge of cashing outlets told reporters. This means that, as an important part of the securities clearing minfa individual investor claims solves the problem.
Institutional debt securities will sell minfa dozens of sales proceeds to a proportionate satisfaction. "Minfa securities existing 30 home sales department, 19 service, nowadays, it's still very stable brokerage, Fuzhou several sales still profitable. These outlets should be able to sell a good price. At the same time, we also made the investment risk, loss part slowly can digest. "A credit institution's legal representative optimistic to say. Minfa securities sector debt to 95 billion, spread to more than 200 organizations, including some like China life so famous industry leading enterprises.
Debt handling the tricky is a "personal name" to institutions of the creditor's rights. Minfa securities custody group disclosure, minfa securities in Fujian province in the "personal" in the name of the institution of 24 households nancial involving 2393, amount 14263 million. Managed groups hope the Fujian province departments in conditions permit, you can reference the Tianjin Municipal Government resolve the individual institutions in the South of securities "debt" mode.
Staff have been properly placed. Minfa securities over last name within a staff said: "take the buy out of service. Buy new Club recruited after that we go on with your work, not employed on other Fortune! "
Minfa securities is 18 October 2004, in the event of a serious of insolvency, a payment crisis, was formally managed business East asset management companies. It was managed operators group statistics, minfa securities agency debt to 95 billion personal debt deduction for 9.6 billion, 15 million of accounts receivable, total losses of up to 90 billion.
"Capital player" and "ATM"
Wu Yong Hong is minfa securities of "Gravedigger". Minfa securities was founded in May 1988, founder of the people's Bank of China Fujian branch subordinate enterprises, registered capital of RMB 10 million. In July 1996, the people's bank branches and at all levels are issued under the Corporation's notice of decoupling, minfa securities began and the people's Bank of decoupling. The same year, Kelly industrial co., Ltd. China master minfa securities. Back in December, minfa securities capital increased to $ 10919, Kelly company holds 60 million shares, share 54.95%. Wu Yong Hong ren legal representative Association of Fujian Sheng company holds 1000 million shares, share ratio is about 10%.
Wu Yong Hong was once considered local capital operation of "master," and his "career" is a credit loan in Quanzhou city 3000 $ start. Wu Yong Hong uses this funding, through repeated throughout the flight, registered over 20 companies. These companies are secured, to the acquisition of bank loans to several hundred million dollars, minfa securities business.
In March 1999, Kelly company equity securities held minfa. external transfer In August, the manipulation by Wu Yong Hong sheng, Shishi, Fujian Federation into containers, five enterprises take advantage of the assignee all the Kelly company shares. In November 2000, minfa securities sticks to 8 billion. Wu Yong Hong use minfa securities the identity of the shareholder, manipulating their own hip Shing, Shishi, Fujian into containers and other companies, misappropriation of client security deposit, minfa securities violations to bank loans, false "injected" minfa securities, holders of its more than 51% of shares in full control of the minfa securities company.
Industry insiders describe Wu Yong Hong "karate" method: first Bank shareholders deposit and nancial funds into securities unlisted company minfa by unlisted companies through false transactions to Fujian hip shing and its associated companies, the Association last Cinderella Fujian sheng, minfa securities investment. Wu Yong Hong as funds transfers established minfa securities unlisted companies up to over 20.
In October 2001, Wu was a criminal case Yonghong counterparts wanted, he fled. Minfa securities from Zhang Xiao Wei control, Wu Yonghong outside the "remote control" flight of capital. CEO Zhang Xiao Wei Yong Hong NG in meet funding requirements at the same time, they also "not to be outdone," personal or minfa securities funds, on behalf of misappropriated investment real estate, stocks, futures, etc. to reap huge benefits. Preliminary statistics, two-person flight, misappropriated funds several billion dollars.
Minfa securities violations "shady"
In order to maintain capital chain continues to fall, minfa securities blind expansion nancial, promise customers guarantees and high interest rates. Journalists get a blank nancial agreement shows, minfa securities to customers guaranteed interest up to 10%, far higher than the General nancial market 4%-5%, and the majority of interest can also be paid in advance. Therefore, many organizations, individuals have the funds entrusted to purchase Treasury bonds minfa securities "," transfer of securities is to minfa "repo" set out in the form of financial stocks. In recent years, China's stock market a long-term bear market, unscrupulous, reckless and attract more high-interest financing funds become minfa securities remain "capital chain only select" continuously.
Minfa securities company in order to get more money, a salesperson for a par of yewuticheng to various tricks to deceive investors. In order to discourage investors concerns, some brokers also to supplement the agreement in the form of the full moon to minfa risk.
Minfa securities of large sums of money there are five directions: bin distributer holds A share markets of stocks, bonds trading, speculative futures, fried remitted out of H shares and inflow Wu Yong Hong and Zhang Xiao Wei personal control of the company. Minfa securities on the stock exchange of a third province only stock flow spare parts ratio was up to 9
7%, 60% and 40% loss. Shanghai Stock Exchange Web site statistics, according to the national debt stock trading volume ranks, minfa securities in 2001 column on the all Member units of the second place, ranked first in 2002, in August 2003, the Treasury market upheaval, minfa securities losses. Minfa securities acquisition futures brokerage companies, and their actions futures trading, resulting in huge losses. Minfa securities funds through underground Bank, and other sources to flow to overseas market, speculative h-shares.
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