Chinese aluminum giant Liu Zhongtian was sued in the United States to smuggle aluminum

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According to Forbes Magazine, Liu Zhongtian and his family are worth $ 3.2 billion.(Photo of the Associated Press)

According to Reuters, an indictment on May 7 showed that 55 -year -old Liu Zhongtian, Zhongwang and several defendants were prosecuted by the Los Angeles Grand Judgment for 24 prosecutions.This complaint was not disclosed before, and it was not known to the outside world until late at night on Tuesday.

(London / Beijing Comprehensive News) As the Sino -US trade negotiations restarted, the US federal prosecutor revealed the day before yesterday that the Chinese aluminum giant Liu Zhongtian and the China Zhongwang Group he founded because of smuggling a large amount of aluminum to the United States, to avoid $ 1.8 billion(S $ 248 billion) tariffs were prosecuted.Affected by the news, China ’s loyalty stock price fell 14.2%yesterday and closed at HK $ 3.44 (S $ 0.6).

According to Reuters, an indictment on May 7 showed that 55 -year -old Liu Zhongtian, Zhongwang and several defendants were prosecuted by the Los Angeles Grand Judgment for 24 prosecutions.This complaint was not disclosed before, and it was not known to the outside world until late at night on Tuesday.

Prosecutors said that the tax avoidance plan began in 2008, and eventually involved a tariffs imposed by the US Department of Commerce on various squeezed aluminum materials imported from China in 2011.

According to the indictment, the enterprises related to Liu Zhongtian are imported through the port of Los Angeles in the port of Los Angeles.The four warehouses stored in Southern California and arranged for the company to sell these aluminum materials to him controlled by fake sales to exaggerate the financial situation of Chinese loyalty, making the company more valuable.

Indexed for large -scale money laundering operations

According to the indictment, Liu Zhongtian, who is called a big boss or Uncle Liu, was also accused of conducting large -scale money laundering operations, involving the use of shell companies to transfer funds to China Zhongwang.

Although the U.S. authorities have issued a arrest order, because China and the United States have not signed an extradition agreement, the outside world believes that Liu Zhongtian is still in China, and it is not clear whether Liu Zhongtian hires lawyers in the United States.

Liu Zhongtian and several other defendants were facing charges such as fraud, black laundering, submitting false documents and conspiracy to the customs. Most of the maximum charges were 20 years. If the continuous execution of up to 465 years, it will reach 465 years.

According to the US government, compared with the US opponents, this operation has given Liu Zhongtian's company's unfair competitive advantage and brings other risks.Appeal of the Land and Safety Investigation Bureau Massius said in a statement: When domestic industry loses the ability to develop and supply products for the application of US defense and key infrastructure, we have to rely on unreliable imports, which will endanger the country.Safety.

China Zhongwang: No notice from legal documents or lawsuits

According to the Beijing News, China Zhongwang issued an announcement at noon yesterday that it noted that the relevant articles involved in the U.S. Federal Jury have filed a lawsuit with the company's controlling shareholder and the company's allegations, including the evasion of tariffs.The company has made confirmation that it has not received any legal documents or notifications on the lawsuit.China Zhongwang also confirmed that there was no legal document or notification that the lawsuit was not accused.

Affected by the above news, China Zhongwang's stock price opened low at a price of HK $ 3.39 yesterday, and once plunged nearly 20%, as of the closing of the market 14.2%.

China Zhongwang said that the group has always strictly abramed the laws and regulations of the export of products in China and the group in business operations, and expands overseas markets under the principles of fair and orderly competition.

China Zhongwang was founded in 1993 and was listed in Hong Kong in 2009. It is a leading company in China. The company is now the world's second largest and Asia's largest industrial aluminum extrusion product research and development manufacturer.According to Forbes Magazine, Liu Zhongtian and his family are worth $ 3.2 billion.

Some analysts believe that Liu Zhongtian and China Zhongwang were exposed to the United States when they restarted negotiations in Shanghai on the day before yesterday, and they were expected to bring more uncertain factors to the negotiations.