Recently, the official website of the CSRC disclosed that the “No. 1 ticket” in 2022 – Jin Zhengda, a well-known fertilizer enterprise in Shandong, was punished by the CSRC for financial fraud, and Wan Lianbu, then chairman, was fined for 10 years.
According to the investigation, from 2015 to the first half of 2018, Kim Jong Il and some of its subsidiaries within the scope of consolidated statements carried out fictitious trade business without real logistics through fictitious contracts with their suppliers, customers and other external units, and accumulated fictitious income of 23.073 billion yuan and fictitious cost of 21.084 billion yuan. The CSRC decided to impose a total fine of 7.55 million yuan on 8 relevant responsible persons, including Kim Jong Il and his actual controller, and take measures to prohibit market entry.
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SFC’s first ticket in the New Year! The boss’s financial fraud of 23.1 billion is banned from the market for 10 years
According to the website of the CSRC, the CSRC announced the administrative punishment No. 1 in 2022. A total of 7.55 million yuan was fined for eight people, including Kim Jong Il and his actual controller Wan Lianbu, who had been counterfeiting for five years and falsely increased their income by 23.1 billion yuan through fictitious trade business.
Screenshot from the official website of CSRC
According to the administrative punishment statement, Kingenta Ecological Engineering Group Co.Ltd(002470) (hereinafter referred to as “Kim Jong Il”) illegal facts include: falsely increasing income and profits through fictitious trade business; Failing to disclose related parties and related transactions as required; There are false records in some asset and liability accounts.
Among them, in terms of falsely increasing income and profit through fictitious trade business, the administrative punishment letter shows that from 2015 to the first half of 2018, Kim Jong Il and some of its subsidiaries within the scope of consolidated statements falsely increased income by 23073.4506 million yuan through fictitious contracts with their suppliers, customers and other external units, idling funds and developing fictitious trade business without physical circulation, The inflated cost was 21083848800 yuan and the total inflated profit was 1989601800 yuan.
The CSRC believes that there are false records in the 2015 annual report, 2016 annual report, 2017 annual report, 2018 annual report, 2019 annual report, 2018 semi annual report and 2019 semi annual report publicly disclosed by Kim Jong Il.
Wan Lianbu, then the actual controller, chairman and general manager of Kim Jong Il, was fully responsible for decision-making and organizing the implementation of illegal acts. Li Jiguo, then deputy general manager and financial director of Kim Jong Il, and Tang Yong, then manager of financial department and director of financial center of Kim Jong Il, organized and participated in illegal acts and failed to fulfill their obligations of diligence and responsibility. Wan Lianbu Li Jiguo’s illegal circumstances are relatively serious, while Tang Yong’s illegal circumstances are serious.
The CSRC decided to order Kim Jong Il to make corrections, give a warning and impose a fine of 1.5 million yuan; Wan Lianbu was given a warning and fined 2.4 million yuan; Give Li Jiguo a warning and impose a fine of 600000 yuan; Tang Yong was given a warning and fined 550000 yuan; Cui bin, Gao Yiwu, Yan Mingxiao, Zheng Shulin and Xu Hengjun, the relevant senior executives of Kim Jong Il at that time, were warned and fined 500000 yuan respectively.
At the same time, the CSRC decided to take a 10-year market ban on wanlianbu, a 5-year market ban on Li Jiguo and a 3-year market ban on Tang Yong. (source: China News Network)
