Financial fraud or financial fraud

category:Finance
 Financial fraud or financial fraud


According to the fact, nature, circumstances and social harm degree of the parties illegal acts, and in accordance with the provisions of the first paragraph of Article 193 of the securities law, Ningbo securities regulatory bureau, in accordance with the provisions of the first paragraph of Article 193 of the securities law, issued a warning to Xiangyi financing and imposed a fine of 600000 yuan. At the same time, Qiu Zhanghai, the then director and general manager of Xiangyi finance, was also fined At that time, pan Ni Hu, chairman of the board of directors, and other 6 senior executives.

According to the provisions of article 233 of the securities law and Article 3, item 1, Article 4 and Article 5 of the provisions on the prohibition of entry into the securities market (Order No. 115 of the CSRC), Ningbo securities regulatory bureau decided to take lifelong measures to ban Qiu Zhanghai from the securities market; to ban pan nihu and Shen Chengde to the securities market for 10 years; and to Liu mainline for 5 years.

According to Zang Xiaoli, director of Beijing Shixuan law firm, although Xiangyi RONGTONG argues that the listed companies have no intention to make false profits, the fraud is caused by the personal behavior of some senior executives based on the assessment of the completion of the annual objectives of the current year, and it is the personal behavior of the senior managers, who ask for exemption or mitigation of punishment for the listed companies. However, the defense was not adopted by the regulatory authorities.

Listed companies have the obligation to truthfully disclose information, especially financial data, to investors and the public. If the listed company thinks that the senior management personnel employed have violated their loyalty obligations to the company and caused losses to the company, they can pursue the responsibility from the senior executives after the listed company has assumed corresponding responsibilities. Zang Xiaoli said that it can be seen that the personal responsibility of senior executives is not a legal reason for the exemption of listed companies. Zang Xiaoli believes that Xiangyi RONGTONG not only needs to pay the fine according to law, but also faces the civil claim lawsuit of the majority of investors. According to the securities law and relevant judicial interpretations, Xiangyi RONGTONG has received administrative penalty tickets at present, and the pre procedure for the damaged investors to sue for compensation through the court has been met. Zang Xiaoli, a lawyer, believes that investors have been consulting about Xiangyi financing claims recently. Once the investors claim qualification is determined, it will help investors to claim for their rights. The scope of investors who are expected to get compensation is: those who buy the stock (600830) of Xiangyi finance from March 10, 2016 to January 9, 2019, and sell or continue to hold the stock after January 10, 2019. Source: Securities Times editor in charge: Zhong Qiming_ NF5619

Listed companies have the obligation to truthfully disclose information, especially financial data, to investors and the public. If the listed company thinks that the senior management personnel employed have violated their loyalty obligations to the company and caused losses to the company, they can pursue the responsibility from the senior executives after the listed company has assumed corresponding responsibilities. Zang Xiaoli said that it can be seen that the personal responsibility of senior executives is not a legal reason for the exemption of listed companies. Zang Xiaoli believes that Xiangyi RONGTONG not only needs to pay the fine according to law, but also faces the civil claim lawsuit of the majority of investors. According to the securities law and relevant judicial interpretations, Xiangyi RONGTONG has received administrative penalty tickets at present, and the pre procedure for the damaged investors to sue for compensation through the court has been met.

Zang Xiaoli, a lawyer, believes that investors have been consulting about Xiangyi financing claims recently. Once the investors claim qualification is determined, it will help investors to claim for their rights. The scope of investors who are expected to get compensation is: those who buy the stock (600830) of Xiangyi finance from March 10, 2016 to January 9, 2019, and sell or continue to hold the stock after January 10, 2019.