According to the press conference of the Supreme People's Procuratorate, Wu Hougang, former chairman and president of Zhangzidao, was sentenced to 15 years in prison and fined 920,000 yuan for the crimes of illegal disclosure of important information, fraud, collusion in bidding, and bribery of non-state workers.
Zhangzidao 2017-2018 two consecutive financial reports fraud.
The reason given in the 2017 financial report was that the scallops were frozen to death by cold water masses.
The reason given in 2018 was that the scallops ran away.
At that time, there was already an uproar in public opinion, and shareholders expressed their disbelief, and some people spoiled the 18-year financial report in advance after the 17-year financial report came out, and they would find reasons to accrue the loss of scallops.
The reason for the scallop fraud is to repay a debt of 16 years. Because the real net profit in 16 years is negative, this is the third consecutive financial loss of Zhangzidao, and it needs to be delisted according to the regulations, and the profit fraud can be guaranteed.
It often takes 100 lies to tell a lie. The inflated profits in the 16-year financial report need to be written off in 17 and 18 years, so there is a second year when the scallops let the cold water mass freeze to death, and the scallops run away in the third year, so the world's ridiculous rhetoric.
"Where are the scallops in Zhangzidao?" has become a buzzword in those years, which shows how big the bad impact of Zhangzidao's counterfeiting is!
The sentence of 15 years is the harshest sentence ever imposed on financial report fraud, right?