30 million days before the former chairman of the rich Thermoelectricity in jail

The same day rich thermoelectric (600509, closing price 9.12 Yuan) former chairman Cheng embezzled 86 million public money Fry, he did not think, in the mall on his own will be in a a-share market fell to a crash, more let years over six of his encounter in prison.　　According to Xinhua news, due to illegal use of the company's funds to fry, resulting in corporate losses of nearly 30 million yuan, more than six days after the Cheng party secretary, chairman of the former party, has been Shihezi People's Court sentenced to 6 years of imprisonment for 6 months. What's the most important thing about 30,000,021 century? Of course, talent! What's the most important thing about stocks?　　That must be information! What kind of investment myth will he create when a senior executive in a public company has a lot of firsthand information.　　Days Rich thermoelectric former chairman Cheng with his bitter experience to tell the vast number of investors, in the risk of ubiquitous in the stock market, even the "talent plus information" combination can not guarantee a steady profit. Turn the clock back to July 2002, when the days of the company manager of the Securities and Investment Department of the Cheng in the name of the department, to the time when the Chairman of the Board submitted a two-tier securities market for instructions.　　and Cheng not in accordance with the relevant provisions convened by the Board of Trustees to consider the case, unauthorized approval of the investment program, and arrangements for the company's financial director Zhang allocated 100 million yuan (after the 16 million Yuan returned to the company, the remaining 84 million yuan for the FRY). It is worth mentioning that, as a listed company, the days of cogeneration must be released on time financial data, and in order to cover up the above violations, several executives involved is painstaking. Cheng arranged Zhang and the company's finance manager Zhao MoU in the company annual inspection, annual financial audit, multiple high interest rate from the securities companies to make up for the gap. It was not until April 2006 that the heat and power of the day decided to withdraw from the stock market only to find that the losses amounted to 29.9015 million yuan.　　In the face of such a large loss, Zhang and Zhao still take the method of cooking the accounts, attempts to continue to conceal the stock investment behavior.　　Sentenced to 6 years and 6 months in the World Stadium! Cheng and other people's violations eventually exposed to the sun, involved in the matter by the public security organs arrested. Recently, the Shihezi People's Court sentenced Cheng to 6 years 6 months. And with Cheng, there are Feng Yu, Zhang and Zhao three, respectively sentenced to two years to five years of imprisonment (Zhao a probation three years).　　The court found that the accused Cheng and Feng Yu, Zhang, Zhao, as a state-owned company managers, abuse of power, illegal use of state-owned companies to stock up money, and the enterprise caused huge economic losses, its behavior constitutes the crime of abuse of power of state-owned companies. In fact, there is more to Cheng than that. The SSE had publicly denounced Cheng last July 22. SSE said that Cheng in the period from October 31, 2007 to November 7, 2008, without the knowledge of the board, unauthorized authority to sign a number of external guarantee contracts, the total amount reached 267 million yuan. andThe above matters were not disclosed in the announcement until April 30, 2009, which seriously violated the Shanghai Stock Exchange listing rules. Industry insiders said that, combined with the trend of a-share market, the fate seems to be with Cheng and other people opened a huge joke, in its unauthorized use of 86 million of funds from July 2002 to April 2006, a-share is in a wave of years of Big bear market, huge losses are inevitable. And in the Cheng and so unbearable pressure out of the stock market, a A-share will usher in a wave of great bull market, the Shanghai Composite Index from April 2006 to 1300-point surge to October 2007 6,124 points.