Father and son joined forces to forge various procurement contracts and illegally removed 103 million yuan from listed companies.
To put it simply, Beidou Jia Pharmaceutical (delisted, former stock code: 08197. In the name of the company and its holding subsidiaries, Wang Shaoyan, the former chairman of HK), embezzled a total of 103 million yuan of funds through external loans, forged Contracts for the purchase of Chinese herbal medicines, forged school bus procurement contracts, etc., and transferred the money to his father Wang Yan's company. Not only is the company saddled with huge debts, but also the serious consequences of the inability to return most of the funds and the forced delisting of the company, the Beijing Third Intermediate Court pointed out that its behavior constitutes the crime of misappropriation of funds.
On December 4, the Third Intermediate People's Court of Beijing Municipality ruled in the second instance, upholding the original judgment of the first instance. Wang Shaoyan was convicted of misappropriation of funds and sentenced to 9 years in prison, deprived of political rights for 2 years, and ordered Wang Shaoyan to return 60.4666 million yuan in compensation.
Borrowed 45 million yuan in the name of the listed company
All the money went to the company controlled by the father
The party, Wang Shaoyan, born in 1982, graduate student culture, has obtained a master's degree in manufacturing engineering and management from the University of Birmingham, a bachelor's degree in business administration from West Coast University, and was the chairman of Beidou Jia Pharmaceutical.
On August 21, 2018, Wang Shaoyan was criminally detained on suspicion of misappropriating funds and arrested on September 21 of the same year. He is currently detained at the Chaoyang District Detention Center in Beijing.
Specifically, in December 2016, Wang Shaoyan took advantage of his position as legal person and chairman of Beidou Jia Pharmaceutical to privately sign a loan agreement to borrow 45 million yuan from Beijing Harbor Investment and Development Co., Ltd., and embezzled the above funds to the company actually controlled by his father Wang Yan, and still has 7066575.12 yuan not returned.
However, it is worth noting that Wang Shaoyan said in his testimony that his position as chairman of Beidou Jia Pharmaceutical was arranged by his father, and in addition, the above-mentioned loan matters were also directed by his father Wang Yan. Wang Yan asked Wang Shaoyan to borrow 45 million yuan from Beidou Jia Pharmaceutical as the borrowing direction for harbor investment, and the loan directly entered the account of a certain Henghe Trading Co., Ltd. controlled by Wang Yan.
"I don't know the purpose of this loan, but Beijing So-and-so Henghe Trading Co., Ltd. and So-and-so Henghe Investment Group Co., Ltd. are all companies actually controlled by my father, Wang Mou1." Wang Shaoyan said. Regarding this loan, Beidou Jia Pharmaceutical did not hold a shareholders' meeting of the company, did not have the consent of the board of directors, and did not have a meeting record, Beidou Jia Pharmaceutical finance did not know about this loan, and Beidou Jia Pharmaceutical and a port company usually did not have any business dealings.
The witness said, "This loan was completely manipulated by Wang Shaoyan and his father Wang Yan, who signed a loan contract in the name of the company without the consent of the company's shareholders' meeting and board of directors, and the other shareholders did not know about it at all." ”
Forgery of Chinese herbal medicine procurement contracts and school bus procurement contracts
A total of 58 million was embezzled to the father's actual control company
In addition to the above-mentioned 45 million yuan loan, Wang Shaoyan also embezzled 20 million yuan for the procurement contract of Chinese herbal medicine.
In January 2017, Wang Shaoyan took advantage of his position as the legal representative and chairman of Beidou Jia Pharmaceutical to embezzle RMB20 million from Tianjin Zhonghesheng, a holding subsidiary of Beidou Jia Company, to Zhongxing Henghe Trading Company, which is actually controlled by his father Wang Yan, in the name of paying the advance payment for the purchase contract of Chinese herbal medicines, and still has RMB 19 million not returned.
Beidou Jia's financial director said afterwards, "In October 2016, Zhonghesheng Company paid 20 million yuan to ZTE Henghe Trading Co., Ltd., and it was Wang Shaoyan who asked me to pay this money directly to ZTE Henghe Trading Co., Ltd. At that time, he said that this was a transaction, there was no contract, I paid this money according to the instructions of the leader." ”
However, the above matters still failed to satisfy Wang Shaoyan's appetite.
In January 2017, Wang Shaoyan once again took advantage of his position to transfer the company's funds of RMB38 million to Beijing Shanshi Media Technology Co., Ltd., which he actually controlled, by purchasing school buses and paying advance payments, and later transferred the money to ZTE Henghe Investment Group Co., Ltd., which was actually controlled by his father Wang Yan, and still has RMB34.4 million not returned. Defendant Wang Shaoyan was later arrested and brought to justice.
The contract stipulates that Beidou Jia paid 38 million yuan to Shanshi Media for the purchase of 190 Yangzi brand YZK666OXCAI school buses, and 30 million yuan to purchase the school bus monitoring system, and Beidou went to Yangtze Bus Factory on November 25 and December 25, 2018 to pick up the vehicles. However, the most bizarre thing is that before the signing of this contract, Beidou Jia began to pay money to Shanshi Media, accumulating 43.92 million yuan, during which some of the repayments and invoices were reduced. In the end, Shanshi Media still owed Beidou Jia 34.4 million yuan.
The director of the office of the manufacturer of the Yangtze brand school bus said, "Around January 2017, our company will not produce this type of car. Our company has never signed an agreement with the above companies to sell school buses, and none of the three companies have heard of them. We have also not received an order to sell 190 school buses of the above models. ”
For this non-existent school bus procurement matter, "Beidou Jia Company has not purchased a school bus from Shanshi Media at all. This matter was at the end of 2016 or the beginning of 2017, my father Wang Yan's ZTE Henghe Group needed to use money, just wanted me to embezzle the money of Beidou Jia Company to ZTE Henghe Group, but if I let Beidou Jia Company directly pay the money to ZTE Henghe Group, it would form a related party transaction, so my father found this Shanshi company as a transit, let Beidou Jia pay the money directly to Shanshi Company, so in February and March from 2017 to 2018, Beidou Jia Company successively transferred money to Shanshi Company A certain stone company will occasionally return a part of the money to a certain Jia company. Later, Beidou Jia Company signed the contract for buying a school bus with Shanshi Company and a certain information technology company, and I asked the company's finance department to modify the financial accounting account, so that the money I embezzled from Beidou Jia Company became the contract payment. ”
Afterwards, a witness said, "Although Wang Shaoyan is the chairman of our company, he has no right to skip the board of directors to make such a decision, and these three events have caused huge losses to our company." ”
Wang Shaoyan was sentenced to 9 years in prison for betrayal
Ordered a refund of RMB60.47 million
On August 21, 2018, Wang Shaoyan was arrested by the police.
After trial, the Third Intermediate People's Court of Beijing Municipality held that Wang Shaoyan's weak concept of the legal system, taking advantage of his position, misappropriating the funds of his own unit for personal use, the amount of money was huge, and carrying out profit-making activities, his behavior has constituted the crime of misappropriation of funds, and should be punished according to law. The facts of the Beijing Chaoyang District People's Procuratorate's charge against defendant Wang Shaoyan for embezzling funds are clear, the evidence is credible and sufficient, and the charges are established. In view of the fact that defendant Wang Shaoyan has returned some of the misappropriated funds, this court gave him a lenient punishment for the crime he committed in accordance with law. For illegal gains that cannot be recovered, the defendant Wang Shaoyan is ordered to return compensation in accordance with law.
In summary, based on the facts of defendant Wang Shaoyan's crime, the nature and circumstances of the crime, and the degree of harm to society, the Third Intermediate People's Court of Beijing Municipality, in accordance with relevant provisions, rendered the following first-instance judgment:
1. Wang Shaoyan was convicted of misappropriation of funds and sentenced to 9 years' imprisonment and deprivation of political rights for 2 years.
2. Ordered defendant Wang Shaoyan to return RMB60,466,600, of which 41,466,600 were returned to the victim's unit, Beidou Jia Pharmaceutical Co., Ltd., and RMB 19 million was returned to the victim's unit, Tianjin Zhonghesheng International Trade Co., Ltd.
The second instance finally ruled to reject Wang Shaoyan's appeal and uphold the original judgment.
Beidou Jia Pharmaceutical was formerly known as Siberian Tiger Pharmaceutical
Delisted from the Hong Kong Stock Exchange
It is understood that BeidouJia Pharmaceutical is a comprehensive pharmaceutical enterprise integrating drug research, development, production and sales, and its main business is the development, production and sales of drugs and investment holding in China. The company was formerly known as Siberian Tiger Pharmaceutical and was listed on the Hong Kong stock market in 2002. After the listing, Siberian Tiger Pharmaceutical co., Ltd. sold and transferred its equity many times due to unstable performance due to business problems.
In April 2017 or around, the board of directors of Siberian Tiger Pharmaceutical was informed by Baoying Chuangfu that it proposed to enter into a share transfer agreement with Guo Feng and Zhang Yabin and complete the acquisition, so that Baoying Chuangfu Investment became a major shareholder of Siberian Tiger Pharmaceutical. In April 2017, Siberian Tiger Pharmaceutical officially changed its name to "Beidou Jia Pharmaceutical".
It is worth noting that between July and December 2015, before Baoying Chuangfu officially entered the ownership, the stock price of Siberian Tiger Pharmaceutical had skyrocketed bizarrely, and the stock price soared by 768% in 5 months, which was crazy.
In April 2018, Beidou Jia Pharmaceutical issued an announcement disclosing that Wang Shaoyan borrowed 45 million yuan from the harbor investment in the name of the company, and he had not returned 25.5 million yuan. Subsequently, Beidou Jia Pharmaceutical issued an announcement that the company held a board announcement to suspend Wang Shaoyan's position on the board of directors and set up a special investigation team to investigate the matter. Therefore, Wang Shaoyan was dismissed from his positions as a director and chairman of the board of directors of Beidou Jia, pending the results of the special investigation committee.
On September 16, 2018, Beidou Jia Pharmaceutical announced that Wang Shaoyan, a former executive director and chairman of the board of directors of the company, entered into an agreement on behalf of the company without the approval of the board of directors and failed to perform its duties as a director of the company to file legal proceedings against it. On August 21, 2018, Wang Shaoyan was arrested by the Chinese Public Security Bureau on suspicion of misappropriating funds. According to the announcement, the company received a letter dated September 14, 2018 from the Stock Exchange, and the exchange canceled the listing procedure of Beidou Jia Pharmaceutical.
On November 15, 2019, Beidou Jia Pharmaceutical received a letter from the Stock Exchange, and the GEM Listing Committee decided to cancel the listing of the company in accordance with Article 9.14A of the GEM Listing Rules.
In June this year, the Hong Kong Stock Exchange exchanged a bid by Beidou Jia Pharmaceutical (delisted, former stock code: 08197.HK). HK) and its 12 directors and 4 supervisors took disciplinary action.
The Exchange condemned Beidou Jia Pharmaceutical, former executive director Wang Shaoyan and others. The Exchange noted that between 2016 and 2017, Wang Shaoyan prompted the Company and its subsidiaries to conduct a series of transactions and payments, resulting in the Company making provisions or impairment losses in excess of RMB90 million. The transactions included transactions with companies controlled by Wang Shaoyan and/or his father, which did not bring any commercial benefit to the company and subjected the company to significant potential liabilities. Wang Shaoyan withheld the transaction from the Board of Directors of the Company and failed to notify shareholders and obtain shareholder approval in accordance with the GEM Listing Rules. The company's internal controls at the time were conspicuously lacking. All directors of the Company, including executive and non-executive Directors, are responsible for this. Directors and Supervisors fail to perform their supervisory duties and to ensure that the Company has appropriate checks and balances.
This article originated from China Fund News