Chong Sheng 1977Nian Cong Zhi Qing Kai Shi

Shockwave exposed the Nirav Modi loan fraud incident at the most appropriate time. On that day, the share price of Punjab National Bank plummeted 10%. As the scandal continued to escalate, the stock price plummeted 21.4% that week, and Shockwave made a small profit. Billions of dollars, hidden in merit and fame.

KiKi was surprised, "The boss cheated on the loan and ran away, but the company still hasn't collapsed? What just happened?"

"It happened at the beginning of last year. The idea of ​​cheating and running away with loans is just what the masses say. Whether they are bank shareholders or relevant responsible persons who have not been exposed, they don't care whether the loan procedures are in compliance. They only care about Nirav Modi. Whether you can and whether you have the money to repay the loan, as long as you can repay the money, everything has to be discussed.”

KiKi's eyes widened, "Is India so magical?"

Nan Yi chuckled and said: "This is not magical. There is something even more magical. In front of me is Vijay Mallya of Kingfisher Airlines. This is a playboy who was treated as a chicken by the Indian government to scare the monkeys. Now he is hiding in the UK. He relies on entangled extradition treaties to avoid returning to India to serve his sentence. He has nothing to say. Let me tell you about another strange person."

"Uncle, tell me quickly." KiKi was aroused by Nan Yi.

Nan Yi hugged KiKi and said, "Don't worry, you can look at the jewelry first. If you like it, buy it. Well, you pay for it yourself."

KiKi raised her head and rolled her eyes at Nan Yi, "Uncle, you are so generous."

"necessary."

KiKi walked around the entire jewelry store in a hurry, then hurriedly pulled Nan Yi out of the store and asked him to continue telling the story.

Nan Yi satisfied her and told the story, "Subora Taroy, the boss of Sahara Enterprise Group, held the most luxurious wedding in the world for his son in 2004, spending nearly 100 million US dollars. "

"What's the bride's name? I'm so envious of her." KiKi's eyes were full of longing.

"Uh..." Nan Yi thought about it and really didn't pay attention to the bride's name. "I really don't know. She is just a background in the story. How can I remember her name."

KiKi gave Nan Yi another look, "Uncle, do you understand, which woman doesn't want to have a unique and luxurious wedding in the world?"

Nan Yi spread his hands and said, "Okay, my fault."

"Just know you're wrong and keep telling the story." KiKi took Nan Yi's arm, rested her head on his shoulder, and was led away by Nan Yi.

"Almost everyone who is famous in politics or business, from the Prime Minister to Cabinet Ministers, from Olympic champions to Bollywood stars, was invited to the wedding. Tens of thousands of guests gathered in Sahara City on the outskirts of Lucknow, the capital of Uttar Pradesh. .

Sahara City is the palace that Subra built for himself. It covers an area of ​​1.46 million square meters and the entire structure is modeled after the White House.

At that time, Subra's friends were all over the business and political circles, and it seemed that he was better than some of the established families in India. He was a wealthy man, but he was highly respected by the poor people in India, who willingly handed over their money to him. "

"Give him the money? What do you mean?" KiKi asked.

"This starts from the time when Subra was not yet prosperous. Subra was born in a poor upper-caste family. When he was in his twenties and had to support his family, he did not think about going to work, but started from scratch. From the beginning, I wanted to be a boss, even if it was a boss sleeping on the floor.

He sold washing powder and opened a grocery store, but all failed without exception. Until 1978, when Subra was 30 years old after several failures, he finally found the code of wealth that suited him.

Banks are also a kind of open-door business. When opening business outlets, they will definitely choose areas with a relatively dense concentration of prospective customers. Places with a large number of prospective customers are naturally where rich people are concentrated. Banks will flock to open branches in wealthy areas. while ignoring slums and rural areas.

Subra was keenly aware of this. He aimed at the idle small money around the poor, and played the role of a bank to collect the small money from the poor.

Subra is a poor guy who can't even afford a decent outfit, so naturally no one will believe him easily. He could only ride a Lambada motorcycle through the countryside, going door to door to sell his money-making fund plan.

At first, he wanted to raise hundreds of rupees from each person, but the situation was not ideal, so he lowered his request. 10 rupees or 5 rupees were not too little. Not only that, he also promised to return it after a certain period of time. With triple interest, if you invest 10 rupees today, you can get 30 rupees in two years. "

"Uncle, isn't this illegal fundraising?" KiKi was keenly aware.

Nan Yi waved his hand, "Put your questions aside for now. When I finish telling the story, you will understand it yourself. If you still don't understand, I will answer it for you."

KiKi touched Nan Yi's arm with her head to show her understanding.

"The money was not much, and the losses would not be too big even if they were cheated. In addition, the interest promised by Subra was too tempting, so one by one the poor fell into the trap, ten, a hundred, and soon nearly ten thousand, Su Bra Birla raised two million rupees in less than half a year.

With some foundation, Subra immediately registered the Sahara Group and turned previous clients into agents, or fund managers who attracted funds. Subra promised high commissions to the managers and also placed heavy tasks on them to sell his fund plans to more poor people.

The task is heavy, and the managers are inexperienced at the beginning. In order to get high commissions, many people will choose to start with themselves, investing all the cash at home into the fund plan, and then target relatives, friends, and neighbors.

It is easier to start with acquaintances who have a foundation of trust, and naturally the task is completed more smoothly. After a while, Subola promoted the previous fund managers to senior managers, and asked these newly appointed senior managers to convert their customers into Fund manager. "

KiKi blinked her eyelashes and hesitated to speak.

Nan Yi noticed her movements, chuckled, and said, "Forget it, just say what you want."

"Uncle, why do I feel that this operating model is very similar to Orange Insurance? It constantly recruits people, turns employees and their families into customers, and lets them continue to purchase insurance policies on their own."

"Haha, it does look a bit like it."

Fang's Insurance used to be a shareholder of Orange Insurance, and Nanyi is quite familiar with its situation. Orange Insurance's business model is completely different from Fang's Insurance. One believes in the iron fist of dictatorship and is confident that customers will suffer losses; the other is a prostitute. Daxian, betting on probability, once the probability of something happening to a customer exceeds a certain point, he or she will directly face losses. There are also risks such as insurance fraud and the insurance company pocketing the premium. Insurance is not easy to do.

Originally, I closed my eyes and pretended not to see Orange Insurance's business model. It liked to do whatever it wanted and just wait for the dividends at the end of the year. But then it did everything, and the internal management was too chaotic, and the risk control was directly out of Orange. Warning, Fang Insurance can only withdraw its shares and directly withdraw from the mainland insurance field. It cannot afford to play anymore and will not play anymore.

“In this way, under this cyclic fission system, one person spreads the word, and the hundreds of millions of poor people in India can raise a large amount of funds even if each person takes out a dollar.

In order to win the trust of poor customers, Subra called the Sahara Group a family, and every customer was his family. In addition to verbal measures to close the distance, Subra also spent 50 million rupees to sponsor the marriage of 101 couples. . In addition, he also distributed food to nearly 150,000 poor people, playing the role of a good man very well.

By 1997, the capital scale of the Sahara Group had reached 40 billion rupees. According to the exchange rate at that time, it exceeded 1 billion US dollars. In order to ensure the continuous flow of funds and to have a steady flow of east wall to fill the west wall, Subra repeatedly expanded A team of fund managers.

Gradually, the scale of the Sahara Group became more and more terrifying, with fund managers reaching an astonishing number of millions. They regarded Subra as a god, and the entire group became extremely orderly and religious.

Subra always appears in front of the fund manager wearing sunglasses, a suit and white socks. When the fund manager sees him, he must put his hands on his chest and say something praising Sahara.

With huge funds, the Sahara Group began to do whatever it wanted, entering the aviation industry, Sahara Air was born, entering real estate, and the luxurious Ambigu Hotel was born.

The Ambigu Hotel only accepts wealthy people. Although it is a hotel, it is actually more like a large amusement park with various unique facilities, such as hotels, theme restaurants, sound and light fountains, etc.

These are nothing, Subra spent huge sums of money to build the Sahara city I mentioned before, and held a luxurious wedding of the century. "

Nan Yi chuckled, "Not to mention, Subra has encountered a good time when India's economy is taking off. As long as the scale is large enough and a regional monopoly is formed, he can make money with his eyes closed. This is also the reason why he has played with his capital for three years. One of the reasons why it hasn’t collapsed in more than ten years.

Another reason is the depreciation of the currency, and the fact that new customers often invest twice or more than the previous batch of old customers. The first batch of customers who invested 10 rupees all got their returns, which made it difficult for those who were not hooked up. The poor felt that Subra was a trustworthy person, so they took the bait one after another. Those who got the reward spent all their savings, or even borrowed part of the foreign debt, and became new customers again. "

"So, Subra is doing illegal fund-raising?"

Nan Yi did not answer, but continued to advance the story, "After the luxurious wedding, several newspapers questioned the Sahara Group. Will the Sahara Group escape with the money and play with a huge pig-killing plate? ?

As soon as the news came out, investors became panicked and thought of withdrawing their capital.

In order to dispel investors' doubts, Subra came up with the idea of ​​listing Sahara Group, because if it wants to be listed, it must disclose its financial report information, such as profitability, funding sources, etc., and it must also be supervised by the Securities and Exchange Commission.

This would make the company more transparent and open, which was obviously not good for Subra. However, under pressure from the situation, Subra made some adjustments and listed two large parent companies within the Sahara Group.

Of course, in order to prevent the public from being aware of Sahara's problems, Subra has been playing around with the law and deliberately concealing some very important information.

Subora's operation immediately made the people at the Securities and Exchange Commission angry. Damn it, Subora, do you think we are fools? I didn't hug my beautiful sister, and there was no money in my son's US account. You just want to fool us like this?

After waiting for a few days, the SEC people did not wait for Subra's sincerity to admit his mistake. The SEC criticized Subra, saying that the company's investors were unknown, and the rules for investors to redeem funds were not clear, and asked him to make rectifications as soon as possible. .

Maybe Subola, relying on his extensive connections, refused to accept weakness at all and responded directly and forcefully to the SEC: I am right, you are not qualified to make irresponsible remarks.

In this way, Subra openly confronted the SEC. He even said boldly: You can investigate, but I will accept the test. As long as you can find out that I have done anything illegal, I will be willing to be hanged.

SEC response: Subra raises funds from the public and must comply with various SEC regulations.

Subra retorted: I did not raise funds from the public. Sahara Group is a family business, and the investors are all my family members. This is private equity, not public equity.

This statement was obviously far-fetched, so the SEC took the matter to the Supreme Court of India and summoned Subra to prepare for a public trial in court.

When things have developed to this point, in fact, it has not reached the worst stage. Sahara is already a huge private company. It is absolutely impossible for the Indian government to beat it to death with a stick. But Subra is too arrogant. He actually dares to ignore the Supreme Court’s decision. Summoned, he refused to appear on the pretext of accompanying his 92-year-old mother.

This made the officials of the Supreme Court furious. Soon after, the court issued an ultimatum to Subra to immediately return the principal and 15% interest of all investors. The cumulative amount was approximately 250 billion rupees.

This is the largest penalty amount in Indian history. However, since Subra dared to defy the court, he naturally had a backup plan. In just two months, he announced that he had returned the principal and interest to investors.

People at the SEC were dumbfounded, how could this be possible? How could Subola have so much money?

In fact, Subra was trying to sell dog meat on a sheep's head. On the surface, he was refunding money, but in fact, he was transferring funds. He asked the fund manager to persuade investors to invest in another fund plan. It can be seen that Subra did not want to release the funds. He did this just to cope with the court's judgment.

Naturally, the SEC did not accept this and required Subra to provide investors’ personal information and refund receipts.

Subra was also tough. He did something shocking: he mobilized 127 trucks to transport more than 30,000 boxes of documents and 50 million pieces of information to the door of the SEC. It was obvious that Subra was deliberately making things difficult. SEC.

People from the Securities and Exchange Commission couldn't swallow this bad breath. They formed a group of 40-50 people and used 80 scanners to review documents day and night. They randomly selected 20,000 investors to respond to the letter, but only 68 responded.

The response rate was so low that the SEC had every reason to suspect that the names and addresses of investors given by Subra were false.

In response, Subra responded: Investors are poor and they cannot write. Besides, I have already received a refund, so why bother with the SEC anymore? There is obviously no need to reply.

Subra's blatant provocation to the government naturally attracted public attention. Some media also conducted visits and investigations based on the address provided by Subra, but they could not find any investors at all, so they speculated that Subra was a liar.

Facing the huge pressure from the outside world, Subra could no longer stand it. In order to ease the relationship with the government, he summoned nearly one million fund managers across the country to sing the Indian national anthem in the square. This move was intended to show that he The patriotism is another warning: you cannot destroy me, otherwise more than 1 million people will face unemployment. "

Nan Yiba chirped, "Subora was self-defeating. He easily gathered millions of people. Who in power wouldn't worry that if everyone was given a gun, he wouldn't be able to break into New Delhi."

At that moment, his connections expired, the Supreme Court issued an arrest warrant, and Subra was imprisoned, but he refused to plead guilty and instead wrote an autobiography in prison, portraying himself as a freedom fighter.

Moreover, since Subra was imprisoned, the Sahara Group has hid funds and claimed that investors would not be able to get their money if Subra was not released from prison for a day. In this way, poor people across the country became angry and pointed their finger at the government, accusing the government of imprisoning Subra arbitrarily.

What happened next was a bit funny. The stalemate lasted for a little more than two years. The Indian government probably reached a secret agreement with Subra. He was released from prison on parole. Soon after, Sahara Group sold its real estate to raise US$2.1 billion to repay investors, but it was only Limited to the businesses involved in two listed companies.

The Securities and Exchange Commission also stated that it would only track refunds from the two listed companies, and that they had no right to interfere with investors who invested in Subra's other fund plans. "

Nan Yi exhaled a breath, shook his head and said: "The year before last, Subra was released on parole in 2016. In less than three years, Sahara Group took advantage of the surge in house prices and land prices to reach its current valuation. It’s close to $10 billion, and Subra remains chairman of Sahara.

I saw him raising a tall building, I saw him entertaining guests, I saw him digging a grave, the wind stopped and the rain stopped, the building did not collapse, but rose higher, did it look like a ridiculous pantomime? "

KiKi let go of Nan Yi's hand and asked in horror: "Is there nothing wrong with Subola?"

"It's not there on the surface, but there's always some loss in private."

"What about the poor investors? Where's their money?"

"There is no conclusion yet, and there may never be a conclusion. In the face of an economic crisis, the best solution is to dilute, reasonably allocate risks, and pass them on to everyone, so that everyone can share a little bit and not be hurt. , it will recover after a while.

Treating Subra as a minor economic crisis and reversing the process doesn't seem too bad. As long as the media doesn't mention it, people will naturally forget it selectively after a while and no one will mention it again. . "

KiKi couldn't figure it out, "But why should Subola?"

Nan Yi sneered, "Then I don't know. Maybe the key to everything lies in the secret agreement. Disputes in the world are all caused by inequality. When the strong ones agree on a certain distribution method, the world will enter a brief period of peace and tranquility.

For example, you and me, you have one dime and I have one billion, which is the most reasonable way of distribution, so we can stay together and take a walk quietly. "

KiKi blushed and said, "Uncle, you are so dirty and shameless."

"Why am I dirty? Are you over-interpreting it?"

"You know it yourself."

"I am not sure."

The two of them had a brief argument about whether they were dirty or not. After returning to the hotel, the argument lost its necessity. Both of them became dirty, unlocked new postures, and did not take the usual path.

When the sun rose again, KiKi was still working hard and Nanyi went out to meet guests.

First, Xue Xiaomin and Pabu Vaze, the three of them met at Pabu Vaze's villa.

The localization of NEWME was completed with the help of Pabu Waze, so Xue Xiaomin knew her well, their temperaments were compatible, and they had many contacts.