国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Minsheng bank reveals property scandal
By Sun Min (China Daily)
Updated: 2005-04-22 08:57

Beijing-based China Minsheng Banking Co Ltd yesterday reported 300 million yuan (US$36 million) was fraudulently obtained in a property transaction in South China's Guangdong Province.

The bank, already listed in Shanghai and preparing for a secondary listing in Hong Kong, alleges the chairman of Guangzhou Junpeng Real Estate Co colluded with a former Guangzhou branch chief to steal the money using a falsified acceptance bill.

The fraud was discovered in August 2004, and is still being investigated by the police, who have frozen the 350 million yuan (US$42 million) account opened by Junpeng with Minsheng.

China Minsheng Banking Co Ltd has so far not reported a financial loss.

The case had already been listed by the Ministry of Public Security as a major financial fraud case at the end of 2004, and reported to the public, before yesterday's statement.

The ministry said the prime suspect, Fan Junye, the chairman of Guangzhou Junpeng, and Ling Min, a former deputy manager of a Minsheng branch in Guangzhou, allegedly used a fake stamp to produce 40 false acceptance bills, each worth 10 million yuan (US$1.2 million).

Twenty of the bills had been cleared by two rural credit co-operatives in the northern city of Tianjin early last year - a 195.5 million yuan (US$23.6 million) loss.

Fan reportedly used the money to buy a property project in Guangzhou, and to clear his debts.

Minsheng's A-shares closed down 0.43 per cent to 4.6 yuan (56 US cents) yesterday.

The bank received final approval from the China Securities Regulatory Commission last month to issue up to 1.34 billion H-shares, and is waiting for the green light from the Hong Kong stock exchange before it begins issuing them.

Close