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Thursday 09 October, 2014 | TEXT_NEWS_RSS_FEED

Wu Changjiang report of sliding shell company shares price

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NVC equity battle has progressed. Following Wu Changjiang is frozen at stake BDO Runda, October 9 Wu Changjiang, said the report of sliding price spectacular beauty dimensional shell company shares, transfer of benefits and performance on suspicion of fraud. Wu Changjiang, said it would sue Wang Lei misappropriation of its 100 million Hong Kong dollars and against the interests of listed companies, and has already made ​​a report to the Commission. In this regard, Wang Dong-lei yesterday (9), told reporters that the investment through a series of comprehensive assessments, and after the approval of shareholders and the board of directors.

Wu Changjiang aspects counterattack

NVC early, said Wu Changjiang guarantees and other irregularities involving three sins in office, and said it would be investigated for criminal responsibility Wu Changjiang. Wu Changjiang quickly held a press conference to deny the allegations and said it would make a counter-measures. October 9, Wu Changjiang, said they had respectively Zhuhai City, Guangdong Province Public Security Bureau and the Public Security Bureau submitted a criminal indictments, directed at another protagonist NVC equity battle of sliding, a request for a king Donglei sued for alleged fraud people 100 million Hong Kong dollars and harm the interests of listed companies suspected of acts of investigation, and be held criminally responsible.

Wu Changjiang terms in the "indictment" said that during the pre-NVC and equity transactions BDO Runda, the company's wholly owned Wu Changjiang NVC INC from Haitong International loan 100 million Hong Kong dollars, while Wang Dong-lei by his brother Wang Dongming Wu Changjiang found to help people return Haitong accused by international lenders to obtain two blank checks from Wu Changjiang place. October 24, 2013, Wang Dong-lei and 王冬明 from Wu Changjiang HSBC Hong Kong account by check drawn 38,221,400 yuan; October 25 to check again draw 59.7755 million yuan. But did not repay the loan.

Wu Changjiang, said April 23, 2014, Wang Dong-lei will be paid to the equity transfer Wu Changjiang of 100 million Hong Kong dollars paid directly to the Haitong International. By Wu Changjiang to Haitong International Understanding, is the sum of 100 million Hong Kong dollars 100 million yuan loan repaid before. The funds previously delivered to the complainant Wang Dongming Wang Dong-lei's two brothers were misappropriated. This is equivalent to Wang Dong-lei spent should be paid to the equity transfer Wu Changjiang Wu Changjiang also for the loan, but before Wu Changjiang accounts from two incomes are falling expenditures of sliding brothers pockets. Wu Changjiang believes that the fact that an accused person fictional occupation sue the property, has violated the criminal law.

In addition, Wu Changjiang aspects in addition to a "indictments," said the May 13, 2013, Wang Dong-lei behalf of BDO Runda, and Beijing Air gifted as Advertising Co., Ltd., Beijing Stone Austrian gifted Advertising Co., Beijing Advertising Co. spectacular Victoria America signed the "Beijing Advertising Co. spectacular Victoria America investment contract", intends to invest 640 million yuan spectacular Victoria America.

Wu Changjiang, said the United States was spectacular Victoria already insolvent. Wu Changjiang, said the United States and the spectacular Victoria registration in April 2011 to establish an initial capital of 50 million yuan. By the end of 2012, the United States and the spectacular Victoria loss amounted to 22 million yuan, as of March 31, 2013, the United States and the spectacular Victoria owner's equity is -2878.11 million. The equity valuation of nearly 3 billion yuan, the transaction there are flaws in the valuation, damage the interests of listed companies.

BDO Runda also agreed in the acquisition announcement, the United States and the spectacular Victoria BDO Runda money will be invested for the purchase of its LED display products. Wu Changjiang, said that the investment performance is also suspected of fraud, to deceive the public. Public information, Wu Changjiang is now the second largest shareholder of BDO Runda. BDO Runda for this investment matters, Wu Changjiang, said the SFC has submitted a report, requesting an investigation according to law.

The two sides exchanged fire constantly

Wu Changjiang in NVC out, and did not make it and Wang Dong-lei conflict to a full stop. With NVC Wu Changjiang put forward will be held criminally responsible during his tenure, the two sides have been in the crossfire. Wu Changjiang stake currently held by BDO Runda has been judicially frozen, worth about 10 billion yuan.

It is worth noting that the proposed investigation of his criminal responsibility in NVC lighting Wu Changjiang since NVC regard to the matter have been no new developments announced. In previous briefings, the NVC, said Wu Changjiang by NVC (China) Co., Ltd. account in November 29, 2013, December 3, 2013, in July 2014 at the Bank of China Chongqing Branch ferry the 18th thrice West Chongqing En Wei Industrial Development Co., Ltd., Chongqing Leili Jie Industrial Development Co., Ltd. to be secured, these guarantee contracts have not been approved by the Board as well as other legal compliance program, are illegal guarantee. If the debtor can not pay off the loan, NVC will face up to 173 million yuan loss.

Wu Changjiang is denied this and said that for the behavior of NVC will soon make a counterattack. For Wu Changjiang behavioral October 9, the NVC lighting yet to respond.

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