Under the leadership of Lai Xiaomin, Huarong bought and sold officials at a price of 300,000 yuan for entering Huarong, 500,000 yuan for part-time officials, and 1 million yuan for leaders of branch companies.(the Internet)
(Beijing/Hong Kong Comprehensive News) The case of Lai Xiaomin, the former chairman and party secretary of China Huarong Company, who was sacked in April this year, has revealed surprising details: the authorities seized more than 3,000 kilograms, equivalent to 270 million yuan (RMB, the following) from several of its properties.same, 54 million Singapore dollars) in cash, setting a new record in the history of corruption in the CCP, and described as the largest financial corruption case since 1949.
According to Caixin.com's report the day before yesterday, Huarong Group held a two-day mid-year work conference in Beijing from the 3rd to the 4th of this month, during which they reported part of the case concerning Lai Xiaomin.
Sing Tao Daily pointed out yesterday that based on the weight of 1.15 grams for a piece of 100-yuan RMB just out of the warehouse, the weight of 270 million yuan in cash would reach 3,100 kilograms; if stacked together, the volume would exceed 3 cubic meters.
According to reports, the above-mentioned amount broke the record that Wei Pengyuan, the former deputy director of the Coal Department of the National Energy Administration, was found in his home in 2014 with 230 million yuan in cash and four banknote counters were overworked and burned.
What is even more astonishing is that the above amount is only the tip of the iceberg of Lai Xiaomin's case.According to reports, there are three sources of Lai Xiaomin's huge amount of corruption funds, including receiving entrustments from private enterprises and transferring project benefits; at least 1 billion yuan of corruption funds from Huarong's own engineering projects, and unknown amounts from Huarong's internal buying and selling of officials.It is rumored that the price of buying an official is clearly marked, 300,000 yuan for entering Huarong, 500,000 yuan for a part-time official, and 1 million yuan for the leader of a branch company.
The first major financial case after the Central Commission for Discipline Inspection and the State Supervision Commission took office
According to the report, when Lai Xiaomin managed the company, he put his personal will above the organization. On the surface, he was decisive, but behind the scenes, he was blind and arbitrary, causing many problems in the group's management.For example, under the guise of the Belt and Road Initiative, Lai Xiaomin asked Huarong's branches and subsidiaries to provide funds for private enterprises in violation of regulations, and engaged in profit transfer.
According to reports, the Lai Xiaomin case is the first major financial case announced after the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission jointly took office.Caixin.com described this as the largest financial corruption case since the founding of New China, and pointed out that Huarong is still in the process of self-examination, self-correction, and writing a report to eliminate Lai Xiaomin's poison.
Established in 1999, Huarong is one of the four major state-owned financial asset management companies in China. It is an asset management company established to dispose of the non-performing assets of the Industrial and Commercial Bank of China; it was listed in Hong Kong in 2015; its performance in 2017 shows that the company's total assets reached 1.87 trillionYuan, ranking first among the four major state-owned asset management companies.
