The secret of the provincial and ministerial God of stocks is that he made a huge profit by speculating on stocks

category:Global
 The secret of the provincial and ministerial God of stocks is that he made a huge profit by speculating on stocks


Recently, Bai Xiangqun, the former vice president of the peoples Government of Inner Mongolia Autonomous Region, declared a public verdict on the case. After trial, it was found that in early October 2010, August 2011 and February 2015, Bai Xiangqun illegally obtained insider information from insiders of relevant stock insider information. During the sensitive period of insider information, Bai Xiangqun raised funds and instructed others to buy the above-mentioned stocks with multiple family and friend accounts, or expressed or implied others to buy the stocks, with a total transaction amount of more than 42.56 million yuan, not The total profit of France is more than 17.17 million yuan; the disclosure of the above-mentioned inside information to others causes others to buy the above-mentioned shares during the sensitive period of inside information, and the accumulated transaction amount is more than 43.08 million yuan, and the total illegal profit is more than 40.52 million yuan.

Bai Xiangqun is at the scene of the trial.

In a simple calculation, the total stock investment is more than 80 million yuan, and after several operations, the profit will be more than 50 million yuan, with a proper God of stocks level. How did Bai Xiangqun and those people do it? The answer is insider trading and disclosure of insider information. The court determined that Bai Xiangquns act constitutes the crime of bribery, corruption, insider trading and disclosure of insider information, and decided to carry out a fixed-term imprisonment of 16 years and a fine of 62.5 million yuan. The court recovered and turned over to the state treasury the property, insider trading, disclosure of insider information, illegal gains and fruits of Bai Xiangquns bribery, and the insufficient part, and continued to recover

In the typical cases investigated since the 18th National Congress of the Communist Party of China, insider trading and disclosure of insider information are not uncommon. Article 94 of the regulations on punishment of Party discipline revised in 2018 added the punishment provisions on the violation of disciplines such as using the information obtained in the decision-making and approval process of participating in enterprise restructuring, directional issuance, merger and investment, land use right transfer, etc. and so on. If the act is serious and constitutes the crime of insider trading and disclosing insider information, the relevant provisions of the criminal law shall apply. Up to now, in addition to Bai Xiangqun, among the provincial and ministerial cadres, Yao Gang, the former vice chairman of the CSRC, Ma Jian, the former Vice Minister of the Ministry of national security, Chen Shulong, the former vice governor of Anhui Province, Zhou Chunyu, the former vice governor of Anhui Province, Wang Xiaoguang, the former vice governor of Guizhou Province, and many others have been sentenced for insider trading and leaking insider information. What is the crime of insider trading and disclosing insider information? It is stipulated in Article 180 of the criminal law. The subject of the crime is insider, that is, the insider of securities and futures trading or the person who illegally obtains the insider of securities and futures trading, including natural persons and units. The subjective aspect can only be constituted by intention, while the negligence does not constitute this crime. Objectively, the crime includes the following acts: first, the insider uses the inside information to buy and sell securities and futures or suggests others to buy and sell securities and futures according to the inside information; second, the insider divulges the inside information to others so that others can use the information to carry out the inside transaction; third, the non insider obtains the inside information through improper means or other ways, and Buying and selling securities and futures or recommending others to buy and sell securities and futures according to the information; 4. Other insider trading activities. Baixiang group involves the first two behaviors.

In terms of sentencing, the crime is divided into two categories: if the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also, or shall only, be fined not less than one time but not more than five times the illegal income; if the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years and shall also be fined not less than one time but not more than five times the illegal income. It can be seen that the crime has both freedom penalty and property penalty. Once it violates the red line, both money and freedom will be lost.

There are two ways to be rich when you are an official. When you are an official, you should not be rich. When you are rich, you should not be an official. At the scene of the Central Commission for Discipline Inspection and the State Supervision Commissions announcement on Bai Xiangquns decision to expel party membership and public office, Bai Xiangqun said frankly. Insider trading and disclosing insider information is essentially a very unfair trading behavior, which not only infringes the normal management order of securities and futures markets, but also damages the legitimate interests of securities and futures investors. If Party members and cadres participate in it, its influence will be even worse. There should be no such cadres as Bai Xiangqun.

Discipline law link:

Article 180 a person who knows the inside information of securities and futures trading or who illegally obtains the inside information of securities and futures trading shall buy or sell the securities or engage in the futures trading related to the inside information before the information involving the issuance of securities, securities and futures trading or other information having a significant impact on the price of securities and futures trading is made public, or Those who divulge such information, or express or imply that others are engaged in the above-mentioned trading activities, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also, or shall only, be fined not less than one time but not more than five times the illegal income; if the circumstances are especially serious, they shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years and shall also be fined not less than one time but not more than five times the illegal income.

If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and the other persons who are directly responsible for the crime shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention.

The scope of the inside information and the insiders shall be determined in accordance with the provisions of laws and administrative regulations.

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u2014u2014From the criminal law of the peoples Republic of China

Source: editor in charge of the website of the State Commission for Discipline Inspection of the CPC Central Committee: Liu Yuxin, nbjs7825