How much money does the head of a branch of a major state-owned bank have?
On April 29, a fine disclosed on the official website of the State Administration of Financial Supervision revealed such a classic case: Huo Yu, then president of the Xining Chengxi Branch of China Construction Bank Corporation (hereinafter referred to as CCB Chengxi Branch), was banned from business for five years for "relaxing credit management, resulting in the loss of credit funds".
This morning, the reporter inquired and learned that Huo Yu has been sentenced to two years in prison for accepting bribes of nearly one million yuan when lending money, and some documents show that when Huo Yu was serving as the Chengxi branch of the China Construction Bank, at least 40 million credit funds of the bank were not recovered when they expired, and they were misappropriated for stock speculation.
The president of the CCB branch was sentenced to two years in prison and banned from business for accepting bribes of nearly one million
According to relevant documents, Huo Yu, born in 1969, has a bachelor's degree and is registered in Zhoukou City, Henan Province. From December 2003 to July 2021, Huo Yu served as the vice president, president and general manager of Xining Chengxi Branch of China Construction Bank. From July 2021 to August 26, 2022, Huo Yu served as the general manager of the settlement and cash management department of China Construction Bank Qinghai Branch.
According to the relevant departments, Huo Yu took bribes many times during his tenure, and most of them were related to real estate enterprises. Among them, in July 2008, when Huo Yu was the vice president of the Chengxi Branch of CCB, he got acquainted with Chen, who was engaged in private financing and lending, and later introduced Gao, a bank credit customer, to Chen. After that, Chen and Gao reached a private high-interest loan agreement of 15 million yuan. Because Huo Yu's position could restrict Gao's credit business in the Chengxi Branch of CCB, Chen asked Huo Yu to be the guarantor of the loan agreement. Although Huo Yu did not promise to guarantee, he promised to help Chen. On August 14 and November 4, 2009, Huo Yu received a total of 100,000 yuan from Chen in two installments.
In addition, during the period from April 2009 to September 2009, while serving as the vice president of the Chengxi Branch of CCB, Huo Yu took advantage of his position to provide assistance to the company in obtaining loans for three real estate development bank loan projects handled by the sub-branch by greeting the account managers Chen and Yang, artificially adjusting the capital ratio of Qinghai Ziwei Real Estate Development Co., Ltd. and raising the company's credit rating, etc., and the company later obtained loans of 70 million yuan in the sub-branch. Huo Yu also took advantage of his position to arrange for account manager Xu to artificially adjust the proportion of Qinghai Ziwei Real Estate Development Co., Ltd.'s capital, raise the company's credit rating and ask the account manager Yang to review it as soon as possible, etc., to help the company obtain loans for four real estate development bank loan projects handled by the sub-branch.
Afterwards, Huo Yu received a total of 600,000 yuan in May 2009 and August 2011 from Gao, the person in charge of Qinghai Ziwei Real Estate Development Co., Ltd.
For another example, from 2008 to 2013, when Huo Yu was the vice president of the Chengxi branch of CCB, he took advantage of his position to help Qinghai Limeng Haiyi Real Estate Development Co., Ltd. obtain loans for eight real estate development bank loan projects handled by Qinghai Limeng Haiyi Real Estate Development Co., Ltd. in the sub-branch by arranging account manager Ci and customer manager Yang to speed up the pace of declaration and adjust the order of declaration, and the company obtained a total of 61 million yuan in loans in the sub-branch.
In July 2014, Huo Yu received a Cartier watch from Ma, the person in charge of Qinghai Limeng Haiyi Real Estate Development Co., Ltd., in a café in Xining City. Identified by the Xining Price Certification Center, the price of the watch was 50,180 yuan.
On May 6, 2022, Huo Yu was placed in custody on suspicion of taking bribes, criminally detained on September 14, 2022, and arrested on September 22 of the same year.
The court of first instance held that Huo Yu, as a state functionary, took advantage of his position as vice president of the Xining Chengxi Branch of the China Construction Bank to seek benefits for others and illegally accepted property from others in huge amounts, and his conduct constituted the crime of accepting bribes. Huo Yu was convicted of accepting bribes and sentenced to two years and six months imprisonment and a fine of 150,000 yuan. After that, the court of second instance still upheld the original verdict.
When Huo Yu was the president, at least 40 million loans from the branch could not be recovered
It is worth noting that the regulatory authorities issued a fine of 250,000 yuan to the Chengxi Branch of CCB for the same reason as the relaxation of credit management, resulting in the loss of credit funds.
According to other documents, when Huo Yu was the president of the Chengxi branch of the CCB, at least 40 million yuan of loans issued by the branch could not be recovered after they expired, so that the bank had to go to court with the enterprises involved.
It is reported that on May 19, 2015, CCB Chengxi Sub-branch and Qinghai Qingye Petrochemical Co., Ltd. (hereinafter referred to as Qingye Petrochemical Company) signed the RMB Working Capital Loan Contract, stipulating that CCB Chengxi Sub-branch would issue a working capital loan of RMB 48 million to Qingye Petrochemical Co., Ltd. with a loan term of two years, from May 19, 2015 to May 18, 2017. The document also clearly pointed out that the legal person of the Chengxi Branch of CCB at that time was Huo Yu, the president.
On May 19, 2015, CCB Chengxi Sub-branch, Dahua Company and Jiang Nian respectively signed the Guarantee Contract and the Natural Person Guarantee Contract, stipulating that Dahua Company and Jiang Nian would provide joint and several liability guarantee to CCB Chengxi Sub-branch for all debts under the RMB Working Capital Loan Contract signed between Qingye Petrochemical Company and CCB Chengxi Sub-branch, including but not limited to the loan principal, interest, liquidated damages and expenses incurred by CCB Chengxi Sub-branch to realize the creditor's rights. Subsequently, in May 2015, CCB Chengxi Sub-branch issued a working capital loan of RMB 48 million to Qingye Petrochemical Company in full.
Before the expiration of the contract on April 24, 2017, upon the application of Qingye Petrochemical Company, Dachaidan Dahua Chemical Co., Ltd. (hereinafter referred to as Dahua Company) and Jiang Nian agreed, on the basis of the repayment of the loan of 5 million yuan by Qingye Petrochemical Company, on May 17, 2017, CCB Chengxi Sub-branch handled the term adjustment business of 43 million yuan working capital loan for Qingye Petrochemical Company, and signed the RMB Loan Term Adjustment Agreement with Qingye Petrochemical Company, Dahua Company and Jiang Nian. The maturity date of the term-adjusted loan is November 17, 2017. CCB Chengxi Sub-branch signed the "Guarantee Contract" and "Natural Person Guarantee Contract" with Dahua Company and Jiang Nian respectively. However, after the loan expired, Qingye Petrochemical Company failed to repay the principal and interest of the loan.
According to the corresponding documents, Dahua Company pointed out in the court that Qingye Petrochemical Company used the loans involved in the case for stock speculation, and the Chengxi Branch of CCB had a laissez-faire attitude towards Qingye Petrochemical Company's illegal use of loans and neglected supervision, resulting in the loan being unable to be recovered; The "Guarantee Contract" signed by Dahua Company is not its true meaning, so it should not bear the guarantee liability.
However, the court of first instance and second instance both found that Qingye Petrochemical Company should repay the principal of the loan of 43 million yuan to the Chengxi Branch of CCB and pay the corresponding interest; Jiang Nian and Dahua Company shall be jointly and severally liable for the above-mentioned debts.
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