Wen | AI Finance and Economics Yang Yi Wu Yue
Editor| Lu Jia
Ye Fei, who had caused a tornado in the stock market after a "suicide-style revelation", was arrested.
On September 24, the China Securities Regulatory Commission (CSRC) released the news that it had recently cooperated with the public security organs to carry out a joint operation to arrest and arrest the main suspected criminals in three cases of market manipulation in "Nanling Minbang", "Jinchuang Group" and "Haozhi Mechanical and Electrical", including Ye Mou, who was highly concerned by all parties.
After investigation, from August 2020 to December 2020, Liu Mouye's gang controlled dozens of securities accounts by means of stock allocation, entrusted financial management, etc., and was suspected of manipulating "Nanling Minbang" stocks through centralized capital advantages, continuous trading of shareholding advantages, and illegally profited tens of millions of yuan; Ye Mouye actively provided relevant help and suggestions when he knew that Liu Mouye and others manipulated the price of "Nanling Minbang" stocks, creating favorable conditions for manipulating the market and seeking illegal benefits.
The CSRC pointed out that the above-mentioned cases are cases of organized and committed market manipulation illegal crimes jointly seized by the CSRC and the public security organs, reflecting the gray and black interest chain of collusion between the manipulating gangs and the capital allocation intermediaries, market brokers, and the "black mouths" of the stock market, and is the key type of illegality cracked down on by the CSRC in recent years.
According to the Beijing News and other media reports, one of the "Ye Mou" is the "big V" Ye Fei who has exposed the market value management of listed companies and brought about stock market turmoil.
<h1 class="pgc-h-arrow-right" data-track="12" > market value management "breaking news door", the most injured is retail investors</h1>
In May this year, Ye Fei became a "red person" in the capital market because of the exposure of the "market value management" of listed companies such as Zhongyuan Home. At about 10:00 p.m. on May 15, the live broadcast room of Weibo user "Ye Fei Private Equity Champion Direct Talk" once attracted more than 430,000 people to watch.
Ye Fei's "breaking news" incident began on May 9, when he publicly "collected debts" from the listed company Zhongyuan Home on Weibo, saying that the trader found by the latter's market value management did not pay the final payment to the next home (receiver) in time, and because the stock price of Zhongyuan Home continued to fall, the public fund managers and securities companies involved in the asset management losses were very large, and it was difficult for him to account for the family as an intermediary.
According to the information released by Ye Fei through the Internet and media, the purpose of the transaction is that the trader of Zhongyuan Home furnishing tries to find funds to hold the stock control of the listed company on behalf of the company, thereby further increasing the company's stock price. And Ye Fei is only the middleman of the whole incident, his upper family is Shenwan Hongyuan Qingdao sales department Liu Peng, the latter said to him at the time that "this single business is very reliable", but in the end not only did not receive the intermediary fee, but also the next public fund and securities company asset management he found could not receive the final payment.
It is precisely for this reason that Ye Fei also had an economic dispute with a "trader" named Pu Feidi, and at the beginning of this year, he was in a hotel in Futian, Shenzhen, because Ye Fei "temporarily kept" Pu Feidi's bank card and ID card, and the two were taken to the police station together.
Although Ye Fei has been in the private equity circle for nearly two decades, this time he still miscalculated. After meeting with the above-mentioned disk party for the first time, Ye Fei found that the middleman may not be more than Liu Peng's upper family, Liu Peng and himself, and the total intermediate fee price code given by the other party is therefore far more than this ratio.
And if it goes well, Ye Fei and Pu Feidi don't have to meet, and the whole process is an oral agreement. Some insiders also revealed to AI Finance and Economics that the parties to market value management will themselves choose "physical isolation" in order to circumvent supervision. However, with the reverse movement of Zhongyuan Home's stock price and the loss of the final payment of the disk, Ye Fei has difficulty explaining to the next home he is looking for.
In addition to Zhongyuan Home, Ye Fei also mentioned listed companies such as Visionox, Haozhi Electromechanical, LONGi Machinery, and Oriental Fashion, and threatened to expose similar insider information of no less than 18 listed companies.
On the evening of May 13, Zhongyuan Home responded quickly after receiving inquiries from the Shanghai Stock Exchange, denying the so-called "market value management".
The so-called "market value management", that is, the actual controller or major shareholder of the listed company invites the bookmaker to make the stock price high, and then in the form of rebate rebates, attracts public funds and securities companies to take over. Those who are in the bureau are called "market value management", but the essence has touched the high-pressure line of manipulating the securities market. Therefore, Ye Fei's report also quickly attracted the attention of the regulatory authorities. On May 14, when answering reporters' questions on the incident, the spokesperson of the China Securities Regulatory Commission (CSRC) made it clear that it would seriously investigate and deal with market manipulation and insider trading in the name of market value management.
Although a number of listed companies involved subsequently denied the content of Ye Fei's report, this still triggered a "tornado" in the stock market. As of the close of trading on May 17, the total market value of the 11 listed companies that were "named" by Ye Fei plus 2 listed securities companies has evaporated by more than 17 billion yuan compared with the previous trading day. As of the end of the first quarter of this year, the number of shareholders of 13 listed companies was close to 800,000.
<h1 class="pgc-h-arrow-right" data-track="38" Who is Ye Fei >? </h1>
Just like Ye Fei's Weibo name "Ye Fei Private Equity Champion Straight Talk", he is indeed a "private equity champion". According to public information, Ye Fei began to speculate in stocks in 1994, engaged in institutional private equity investment in 2003, and was also a long-term special financial securities lecturer on CCTV Securities Information Channel, and won the first place in the "China Stock Market Private Master Competition" in 2007.
In 2010, Ye Fei, who took Xu Xiang as an idol, founded his own private equity Yitian Investment, and its product "Yitian Yali No. 3 Fund" achieved a yield of 351% in the first half of 2015, and was named "the champion of the Sunshine Private Equity Fund Equity Strategy Group in the first half of 2015" by the institution, and its idol Xu Xiang only achieved 147% of the return in the same period.
Also in November of that year, Xu Xiang was taken criminal compulsory measures by the public security organs for suspected violations of the law. This is a postscript.
Despite the stock market crash in 2015, Ye Fei's products still achieved a return of 200% + during the year, reaching the peak of its investment. However, during the stock market circuit breaker in 2016, the net value of Yitian Investment products reached 45% in a single month, and in 2019, Yitian Investment was directly written off.
Ye Fei's reputation is not glamorous in the capital circle. In September 2015, Ye Fei, who had just finished winning the private equity championship, began to teach people to speculate in stocks, and the target was still a group of high-net-worth EMBA students. The result of following this star's private placement to speculate in stocks is that many EMBA bosses have lost hundreds of millions of yuan, and the tuition fees paid by the bosses for this loss are not low, and the training fees are often hundreds of thousands or even more than 200,000 yuan. In the comments below his recently exposed Weibo, many netizens took this matter back to him.
Judging from public information, Ye Fei's capital resume is not "clean", he has been in the private equity circle for more than 20 years, and he may already be familiar with the business of "pimping". Also in September 2015, Ye Fei, who had just finished winning the championship, received a fine from the CSRC for manipulating the shares of Xinwei Group, Jinxi Axle, Jianghuai Automobile, Aotexun, Zhongqingbao and other stocks, and was fined 19.9137 million yuan, a total of more than 26 million yuan.
<h1 class="pgc-h-arrow-right" data-track="55" > zero tolerance for vicious market manipulation</h1>
On May 16, after the incident was exposed, the CSRC said that it had filed an investigation into the suspected manipulation of zhongyuan home and other stocks by relevant accounts in accordance with the law. For listed companies and actual controllers, private funds, public funds and other relevant institutions and individuals engaged in or involved, the CSRC will work with the public security organs to thoroughly investigate and strictly punish in accordance with the law, and will not tolerate it.
On July 23 this year, the China Securities Regulatory Commission (CSRC) announced that from September 2020 to May 2021, Shi mou and other manipulation gangs controlled dozens of securities accounts and raised the stock prices of "Zhongyuan Home" and "Litong Electronics" through continuous trading and confrontation, with a transaction amount of more than 3 billion yuan, and the relevant acts have reached the standard of criminal prosecution, suspected of constituting market manipulation crimes.
Now, Ye Fei, a former "whistleblower", has also been arrested and arrested for manipulating the market.
At the time of the exposure of the incident, Zang Xiaoli, a lawyer at Beijing Shixuan Law Firm, told AI Finance and Economics that from the content of Ye Fei's revelations, the so-called "market value management" is actually to control the stock price, if it is real, whether it is a listed company, an intermediary, or a receiver will bear legal responsibility, and it is not based on whether it is profitable. Another legal source pointed out that Ye Fei's revelations are not exactly equivalent to voluntary surrender. It now appears that this judgment has also been confirmed.
But for the securities market, this may also be its node towards more standardization.
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