Gu Chujun: Large Diversion Of Capital Control Was Also Sentenced To 10 Years Of Final Appeal

Afternoon, reporters from around the country crowded around the court again. This scene, and in December 2006 as when the trial. The difference is, when the court of Gu Chujun, confidently, holding dozens of pages of defense speech words like self-defense, denied all the charges. This moment, Gu Chujun quietly listening to the verdict the judge read out the 108, look natural, not words. When the presiding judge Qiaoxia gavel announced the “rejected the appeal and upheld the original verdict,” when, dressed in yellow prison uniform, he frowned, as if all that he had been psychologically prepared.

Yesterday Guangdong Provincial Higher People’s Court to make the final verdict, the former chairman Gu Chujun Kelon Electrical constitute false registered capital crime, illegal disclosure, non-disclosure of important information crimes and crime of misappropriation of funds, the three sentences combined, the implementation of its 10 years in prison and fined 6.8 million yuan. Gu Chujun was arrested along with eight Kelon executives, except for John Hung was acquitted, the Jiang Baojun, Zhang and other 7 were false registered capital constitute the crime, breach disclosure, not to disclose important information crime, crime of misappropriation of funds and were sentenced to 1 year imprisonment, suspended for 2 years to 4 years imprisonment and a fine ranging from RMB 20 000 -10 million.

control of capital movements as 1 strokes: a sleight of multiple transfers in one day suddenly become 660 000 000 187 000 000

Court’s investigation, in May 2001, for the acquisition of legal person shares of Kelon, Gu Chujun want to set up a total registered capital of 1.2 billion

Shunde Greencool Enterprise Development Co., Ltd. (hereinafter referred to Shunde Greencool). In the same year in November, Shunde, Shunde City, Guizhen Zheng Greencool with the government’s guarantee letter, without verification, assessment of completing company registration, business license. The capital of the Company, Gu Chujun intangible assets reached 900 million yuan, accounting for 75% of the total registered capital, far exceeding the then Company Act of intangible assets does not exceed 20% of the registered capital of the statutory ratio. April 2002, the business sector not the company’s annual inspection. To be reduced to the statutory ratio of intangible assets, the same year on May 14, Gu Chujun instructed Liu Yizhong, Jiang Baojun, Cheung Chinese rural credit cooperatives and others in Shunde Ronggui will of 187 million yuan from Kelon Electrical Shunde Greencool and Greencool by Refrigerant (China) Limited (Tianjin Greencool) account back and forth between accounts and gains to Tianjin Greencool total of 660 million yuan investment in Shunde Greencool the Jinzhang Dan, and in turn 187 million on the same day dollars back to Kelon Electrical. Not formed due to the balance of the bill, the Guangdong public PricewaterhouseCoopers required to provide 660 million yuan Liu Yizhong Tianjin Greencool back in the day basis. The basis for the forgery to fraud verification, in the case of advance payment to be false, Gu Chujun Shunde Greencool signed on to the Tianjin Greencool Refrigerants prepaid 660 million yuan to buy a “supply agreement”, and inscribed in time for backdating to May 12 the same year. And Liu Yizhong then complete the corresponding receipts. Accordingly, Shunde Greencool verification report on the success achieved. In the same year on December 23, Shunde City Industry and Commerce Administration approved the registration of the shares changes.

2 trick: blowing hot and cold pre-directors for two years after the huge loss of profits for two years good situation

Kelon Electrical 2000 and 2001 two consecutive years of losses, is stock put “ST” hat. To prevent Kelon Electrical losses in 2002 to withdraw from the market in 2002? 2004, Gu Chujun ordered Jiang Baojun, Yan Yousong, Yan Guo Ru, LIU Ke, Zhang and others to increase the losses in 2001, Yahuo sales, this year delay costs are recorded false sales of scrap, etc. inflated profits. In 2003, Gu Chujun also ordered the establishment of a special Vichy Electric Co., Ltd. Hefei, Wuhan Evergreen Electric Co., Ltd., for operating Yahuo sales increase profits. Kelon Electric in 2002, 2003, published a false financial report, the data show that its profits were up 100 million yuan, 200 million yuan.

3 strokes: Qian Kun Da Nuo unauthorized enterprise funds set up companies

Court also found, in 2003, Gu Chujun Yangzhou Yaxing Corporation to acquire, Zhang, who directed his son to care for the name of a registered capital of 1 billion yuan to establish the Yangzhou Greencool Venture Capital Co., Ltd., of which intangible assets 200 million yuan, and the remaining 800 million yuan for the cash.