Aerospace communications or financial fraud investigation

Aerospace communications for nearly three years can be said to be not constant.　　January 27, the company also issued a notice, because of alleged violations of securities laws and regulations, the SFC Zhejiang Supervision Bureau has been a case investigation. However, what is the space communication in violation of what laws and regulations, yesterday's announcement was not disclosed.　　Some insiders told the securities daily that once listed companies were investigated by the SEC, the general suspicion should be more serious, and the fact that the evidence has been more conclusive.　　and previously responsible for deputy small shareholders to prosecute space communications false statement of the rights of the lawyer Wu Feng also told the Securities Daily Reporter, the case of the investigation is likely to let the investors have been no progress in prosecuting cases "Vista".　　The possibility of financial fraud is greater? As early as 2007, space communications were involved in a financial fraud case. May 2007, the Ministry of Finance in Zhejiang Province, the office of the Financial Ombudsman for Aerospace Communications made "on the Aerospace Communications Holding Group Co., Ltd. 2005 annual accounting Information Quality inspection conclusions and processing decisions of the notice": space communications between 2003 to 2005 to draw funds through other units for turnover,　　The Office of the Financial Ombudsman of the Ministry of Finance in Zhejiang Province has made a decision to deal with the offence of "accounting fraud and false increase in profits". Shortly thereafter, Chenpengfei, the former chairman of space Communications, was arrested for corruption, bribery and embezzlement, and in January 2009 made a final judgment on the charges.　　According to the investigation, Chenpengfei during his tenure, a total of embezzlement of more than 17.62 million yuan, embezzlement of public funds of more than 6.94 million yuan, to accept others bribery 150,000 yuan. For the aerospace communications was again by the Zhejiang Securities and Regulatory Bureau to investigate what is the reason, yesterday, this reporter called Aerospace Communications Dong Xu Hongwei, but its phone has been unanswered. Subsequently, this reporter also called Zhejiang Securities Bureau to inquire about the relevant situation, however, a person in charge of the bureau said that it is not convenient to say anything about this.　　Zhejiang Office of the Securities and Regulatory Bureau a person also said that no information can be released. And yesterday's space communications announcement, the market also a moment of speculation.　　Aside from doubts about the legacy of previous financial fraud Jiuan, investors suspect the company's disclosures have been problematic. In this respect, a person in the industry also told our correspondent, generally speaking, once the bureau issued a case investigation notice, in fact, has completed the preliminary investigation, and has mastered quite conclusive evidence, "and general problems will be more serious." As I know, the issue of information disclosure is also not to be investigated, usually to inform the criticism.　　"As a result, he believes there is a greater likelihood of financial implications."　　Positive medium and small shareholder prosecution case the space communications by the Zhejiang Securities Regulatory Bureau of the notice of the investigation, but also in the middle of small shareholders caused a strong response. Earlier, because of the financial fraud, many small and medium-sized investors angrily to the false statement for the prosecution of space Communications. However, after the first-and second-instance proceedings, the court found that the Ministry of Finance issued theThe notice of the examination of the quality of accounting information in the 2005 of aerospace communication is not an administrative punishment, and the "prior procedure" stipulated by the Supreme People's Court on the trial of several provisions of the civil compensation cases caused by false statements in the securities market is not a result of the investor's claim. "There has been no progress because there is no administrative penalty decision from the SFC, so it cannot satisfy the premise of prosecution." Yesterday, the agent responsible for the small and medium-sized shareholders to prosecute space communications cases of rights lawyers Wu Feng helpless to the reporter said.　　But he also said that if the aerospace communications by the Zhejiang Securities Regulatory Bureau investigation or because of the original old case, and eventually be able to issue administrative penalties, then for the small and medium-sized investors to prosecute space communications, "is a good news."　　Wu Feng also said that even if the space communication is due to the new issue by the Zhejiang Securities Regulatory Bureau to investigate and be implemented administrative penalties, the loss of the small and medium-sized investors can also be based on the administration of the Securities and Regulations Bureau, the Court to bring claims for action. "So this time we wait and see. Wu Feng smiled.