my dear lawyer

Chapter 265

Wang Xuezhi said: "That is a typical case where the China Securities Regulatory Commission comprehensively and severely cracked down on 'foolish' restructuring, curbed 'toxic' assets from polluting the market, and warned intermediary agencies to do their best.

In order to reorganize and go public, a certain group did not hesitate to join hands with a listed company to carry out a "fudge" reorganization, and inflated huge income and bank deposits by various means.

The working attitude of the four relevant intermediary agencies is outrageously poor. The person in charge, including the law firm, did not do a good job of due diligence, and there were false records in issuing professional opinions.

In the end, the China Securities Regulatory Commission investigated and dealt with the responsible parties in accordance with the law, and imposed maximum penalties on the four intermediary agencies.

The China Securities Regulatory Commission has severely cracked down on various illegal acts in major reorganizations, and urged intermediary agencies to play the role of market "gatekeepers". "

The corners of Xu Changhuan's mouth twitched: "I understand, we are the ones to check."

"The intermediary agency has the function of guarding the gate. Take Duan Ke Enterprise as an example. He wants to go public, but he has no idea how to operate it. He can only ask the intermediary agency to help. And you just give him advice, for him Serving, checking for him." Wang Xuezhi explained in detail.

Xu Changhuan asked: "Is there any other cases for me to learn from?"

"Do you know the vaccine incident that caused ups and downs in the past two years?"

"Is it about the 30 fake vaccines? I haven't come back at that time, but I heard about it." Xu Changhuan recalled.

Wang Xuezhi said: "The son of a certain chairman of the company that produces vaccines is one of the shareholders. After the incident, he told the police that he didn't know, didn't understand, and didn't participate." If you were a judge, how would you judge this case? "

If Xu Changhuan's previous impulse was followed, there was no need to think about it, at least he would be sentenced to life imprisonment.

But now that she has matured, as a legal practitioner, her speech must be professional rather than emotional.

Xu Changhuan thought for a while, and then said: "Regardless of whether he is really ignorant or not, as a shareholder of the company, he still cannot escape responsibility."

"Well, this is what I want to tell you about the Jia/Dian shares financial fraud case, 'not knowing, not understanding, not participating' should not be an 'exemption card' for executives of listed companies."

"what happened?"

"This is a typical case of a listed company committing financial fraud in order to fulfill its restructuring profit promise.

In 2011, the listed company, A Relay, restructured its assets and changed its name to Jiadian. Shareholders are compensated.

As a result, after verification, in order to ensure the fulfillment of performance commitments, Jiadian Co., Ltd. inflated profits by a total of 2013 million yuan in 2014 and 1.98 by undercounting main business costs and sales expenses.

During the hearing of this case, a number of executives filed defenses on the grounds that they were "ignorant of the company's fraudulent behavior and unable to identify the hidden financial means".

That is to say, the son of the chairman similar to the vaccine incident two years ago, didn't he say that he neither knew about the fraudulent behavior, nor that he was incapable of distinguishing the true and false of the vaccine?

In December 2017, the China Securities Regulatory Commission imposed administrative penalties on Jiadian and its 12 relevant responsible personnel in accordance with the law.

Once again, all directors, supervisors and senior managers of listed companies should be diligent and responsible, understand and continue to pay attention to the production and operation conditions, financial conditions, major events and their impact of listed companies.

The most important thing is to make it clear that 'not knowing, not knowing, not participating' should not be a reason for exemption. "

(End of this chapter)