Yi Huiman: focusing on superior resources to investigate and deal with major cases of financial fraud
Yi Huiman, chairman of the CSRC, said that the CSRC maintained a high-pressure situation of daily supervision, inspection and law enforcement, and concentrated its efforts to investigate and deal with a number of major financial fraud cases, such as kangdexin and Kangmei pharmaceutical, which are highly concerned by the market and have a bad impact. These cases have some common characteristics: first, the fraud cycle is long, the amount is huge, often lasting for several years, and the false profits are often billions or even tens of billions of yuan. Second, there are systematic and large-scale counterfeiting phenomena. Some companies make up their businesses and engage in two accounts; some companies even regularly develop counterfeiting indicators and implement the whole process of counterfeiting by linking with suppliers and customers. Third, fraud is often accompanied by illegal occupation, illegal guarantee, insider trading, stock price manipulation and other illegal criminal acts. For such cases, the CSRC will hold fast to the end.