The past of magic capital: Baohua groups real estate bribery

category:Finance
 The past of magic capital: Baohua groups real estate bribery


Column Feng Li

A small real estate agent, how to get out of the encirclement of the devil?

Behind the bribery case of the president of a banks Shanghai Branch, the bribery insider of Baohua group, a Shanghai real estate enterprise, was brought out. Baohua group company used the buy one give one sales routine to present a house worth 4.8 million yuan to President Gu.

President Gu, on the other hand, borrows the operation of Bank Trust channels to avoid tax of 40 million yuan per year for the real estate enterprises under Gaohua, chairman of Baohua group.

Karate: tax avoidance of 40 million per year

In many cases of Gus bribery, Feng Li noticed that during his tenure as party secretary and President of a banks Shanghai branch from 2016 to 2018, Gu used his position to instruct Zhejiang businessmens employees to handle a trust investment business between Shanghai Kaixiang Real Estate Co., Ltd., Baohua group and Shanghai Hengbao Asset Management Co., Ltd., making up the relationship between creditors rights and debts In order to avoid tax, Gao Hua, chairman of Baohua group, successfully transferred the profits of Kaixiang real estate company to Baohua group and Shanghai Hengbao Asset Management Co., Ltd.

Before and after 2018, Gu bought Room 201, No. 12, Lane 18, Baohua City Star community, developed by Shanghai Kaixiang Real Estate Co., Ltd., a wholly-owned subsidiary of Baohua group. As a cover, Gu received a set of unlicensed houses with a floor area of 102.8 square meters from Gaohua Group Chairman Gao Hua, with a value of 4.792 million yuan.

The above bribery cases date back to 2015. In a chat with Gao Hua, Gu said that the tax revenue of real estate enterprises is relatively high, so they can do a channel business to transfer profits to the parent company for tax avoidance. Gu said the business was also beneficial to the Shanghai Branch of a bank and said he could help with the operation.

At the beginning of 2016, Gu informed Wang, general manager of the first business development department of a bank, that Baohua group had a business to do to achieve the purpose of adjusting profits between Baohua group and its affiliated companies, and asked Wang to connect with He Mou, financial director of Baohua group. In addition, Gu also arranged the general manager of the asset management department to design a business channel. Since the actual controllers of Baohua group, Shanghai Hengbao Capital Management Co., Ltd. and Shanghai Kaixiang Real Estate Co., Ltd. are all Gaohua, they can let the trust company lend 1.9 billion yuan to Shanghai Kaixiang real estate through Baohua group and Shanghai Hengbao Asset Management Co., Ltd. with certificates of deposit pledge of 950 million yuan In this way, Kaixiang real estate company has to bear 1.9 billion yuan of financial cost every year, and transfer profits to Baohua group and Shanghai Hengbao capital management company through interest.

For the above plan, Baohua groups chief financial officer he said that Baohua did not have 1.9 billion yuan and could not make a 1.9 billion yuan certificate of deposit. Gu said that according to Yus plan, the enterprise does not need to deposit 1.9 billion yuan in advance, which can be reversed.

In May 2016, under the arrangement and requirement of Gu, Yu cooperated with Wang in violation of the rules and regulations to conduct trust financing business with Shanghai Kaixiang Real Estate Co., Ltd. and Baohua group in the form of reverse payment. After the 1.9 billion yuan business is completed, Shanghai Kaixiang real estate company can transfer about 200 million yuan of profits to Baohua group and Shanghai Hengbao Asset Management Co., Ltd.

At the end of 2017, Gu talked to Gao Hua about his sons return from studying abroad and wanted to buy a suite in Shanghai. He asked Gaohua if he could recommend a house developed by Baohua group. Therefore, Gao Hua recommended the house they were selling in Baohua City Star community, and asked Yang, vice president of the company, to take Gu to Baohua City Star community to select houses. Finally, Gu bought Room 201, unit 12, Baohua City Star Community at the price of 9.898 million yuan.

The seemingly normal behavior of buying a house, but there is something fishy about it. Gu bought this house actually has two floors, the contract area is 101 square meters on the second floor, and the same area on the first floor below is without property right certificate. That is to say, the floor area of the house is 202 square meters, the floor area is only 101 square meters on the second floor. Gu spent a suite price, bought two suites, equivalent to buy a free one.

According to Gus confession, Gaohuas buy one get one free behavior is mainly to thank him for helping Gaohua transfer the profits of Shanghai Kaixiang real estate company to Baohua group and Shanghai Hengbao Asset Management Co., Ltd., which are controlled by Gaohua, to help enterprises avoid tax. In addition, Gaohua also hopes Gu can provide help and support when enterprises need financing.

The price confirmation conclusion issued by Ningbo Price Certification Center confirmed that the market transaction price of Room 201 (including room 101 downstairs), No. 12, Lane 18, Baohua City Star Community purchased by Gu was 14.068 million yuan on the base date of price determination.

Its not just Gu who got the benefit when buying a house.

The past of Shanghai district chief

Baojin group is the predecessor of Zhejiang construction group. In 2002, Baohua group was formally established, with a registered capital of 120 million yuan, mainly engaged in industrial investment, real estate development and management, asset management, etc. Gaohua held 70% of the shares, and Shanghai Guochang Real Estate Development Co., Ltd. held 30% of the shares. Gaohua holds 100% equity of Shanghai Guochang real estate.

Since its establishment, Baohua group has developed and built a number of projects in Shanghai, including Baohua crape myrtle garden, Baohua City Star, Baohua Yuanshu and other projects.

Baohua group actually rose in Putuo, Shanghai. Many core buildings are located in Putuo District. Cai Mou, the former governor of Putuo District, is undoubtedly a noble person of Baohua group and Gaohua.

In 2008, when CAI was the governor of Putuo District, he provided convenience for Shanghai Shicheng company to construct the no.582 plot of Changshou Road, Shanghai No.1 Cotton textile mill.

In return, Cai collected 50000 Australian dollars from Shicheng company during his visit to Australia, which was given to him in the form of chips in the Australian entertainment center. After returning home, Cai got 50000 yuan from Gao Hua in three times in the name of card playing fees.

According to the industrial and commercial data, Shanghai Shicheng company is fully known as Shanghai Shicheng Investment Management Co., Ltd. among them, Shanghai Guochang real estate company controlled by Gaohua shares 30%.

There is a Baohua garden near 582 Changshou Road, which is also a property developed by Baohua groups affiliated companies.

During the 10 years from 1999 to 2009, Cai took advantage of his position to accept bribes from several companies or individuals, totaling 2.84 million yuan. He was finally sentenced to 14 years imprisonment in 2010.

Real estate quality inspection: constant troubles

In addition to bribery, Baohua groups real estate has been involved in many rights protection incidents. Baohua City Star, who was involved in a bribery case, was punished by the regulatory authorities for false publicity and was sued by the owners for quality problems.

Baohua City Star is located in lane 18, Shiquan Road, Guangxin plate, Putuo District. It covers an area of 57000 square meters, with a residential building area of 142000 square meters and a floor area ratio of 2.8. The community consists of 10 high-rise residential buildings with 18-31 floors, totaling 1268 households.

In 2016, the second-hand house price in Putuo District was about 50000 yuan per square meter, while Baohua City Star first entered the market with an average price of 98000 yuan per square meter. Although the price is astonishing, the property has become the second largest commercial residential property in Shanghai in 2018 due to its all stone dry hanging Facade, hardbound underground garage and rare vegetation greening, with a turnover of more than 7 billion yuan.

However, the property which is famous for its quality has turned over in the end. In August 2019, Baohua city light was fined 251000 yuan by Putuo District market supervision and Administration Bureau for suspected false publicity. Its because of Baohua city light. In its publicity, it contains words such as all underground driving system, complete distribution of people and vehicles. However, in the actual delivery, the building contains more than 30 actual ground parking spaces, all of which are in use. Vehicles need to drive into the community through public roads, which is inconsistent with the advertising language.

In addition, due to property and decoration problems, Baohua city light was sued by the owners. In May 2019, an owner sent a document saying that more than a dozen people broke into the house and injured the workers in the house. The reason was sealing the balcony. The workers stressed that it was not sealing the balcony, it was just a frame used to install curtains. The property management personnel started to damage the screws and knock the frame. Since then, there are owners said there are quality problems with the marble floor.

In June 2020, the last building of Baohua City Star in putuoguang new block will be added, and 56 sets of houses will attract 113 groups of effective recognition. However, at the opening of the market, the rights protection billboard with the words Baohua goes to quality again, and the quality is shoddy is directly blocked in the sales office. On July 19, 2009, Baohua city garden, located in Liangcheng District, Hongkou District, Shanghai, opened. At the scene, nearly 100 citizens held a placard Baohua endangers life and safety to protest at the sales office. These people came from Sanxiang garden, a community near Baohua city garden. Due to the construction of Baohua city garden, especially the foundation construction, some buildings in Sanxiang garden have cracks. The owner negotiated with Baohua for many times, but none of them was settled. The scene triggered a conflict on the same day, and a group of mysterious people beat people trying to rush into the sales office, causing confusion on the scene. After that, the police took the perpetrator away by force, and then the situation was controlled. Author: Wang Wenhua, focusing on real estate, medicine and entertainment. Source: Netease financial responsibility editor: Yang Qian_ NF4425

In June 2020, the last building of Baohua City Star in putuoguang new block will be added, and 56 sets of houses will attract 113 groups of effective recognition. However, at the opening of the market, the rights protection billboard with the words Baohua goes to quality again, and the quality is shoddy is directly blocked in the sales office.

The scene triggered a conflict on the same day, and a group of mysterious people beat people trying to rush into the sales office, causing confusion on the scene. After that, the police took the perpetrator away by force, and then the situation was controlled.

Author: Wang Wenhua, focusing on real estate, medicine and entertainment