Lend your money *st the consequences of his own insider trading
Source: Internet
Author: User
KeywordsTop executives bad consequences lend your money
A careless, full plate lose. As a result of the reorganization failure, *st (600699) Dong Yuchunling's insider trading behavior not only invested huge losses, but also led the company's chairman and general manager Zhaoli punished. *st today, the company recently received the CSRC on the "administrative punishment decision", found *st Heng Dong Yuchunling Insider trading of the illegal facts, decided to give *st Heng, *st to Heng affiliated company Liaoyuan Liaohe Textile Co., Ltd. warning, and each sentenced to 300,000 yuan fine; Zhaoli warning, and fined 600,000 yuan, 30,000 yuan respectively. *st in this statement, the above administrative penalty decision on the main contents of the company's board of Directors and senior management, will be in accordance with the relevant provisions to resign from the relevant positions. This administrative punishment has no significant influence on the normal production and operation of the company, the company decided to waive the application for administrative reconsideration, *st the other parties whether to apply for administrative reconsideration and the intention of instituting administrative proceedings. The announcement shows that February 14, 2008, *st and the actual operation of the trust reorganization of the company's Coastal International Holdings Limited management of the negotiations to determine the intention to restructure cooperation, to April 28, 2008 *st first issued a major asset reorganization, the stock continued to suspend business announcements, for the insider information sensitive period. Yuchunling has been involved in the whole process of the company, is insider information insider, in the inside information sensitive period, use its management "Li Yue", "Liufenglin" account transactions *st Heng shares, constitute insider trading. It is reported that the funds of the two accounts include the capital of the Liaohe textile capital of 8 million yuan and Yuchunling capital contribution of 151,400 yuan. At that time, not only Yuchunling as *st Heng Dong and Liao textile company secretary, *ST chairman and general Manager Zhaoli also as chairman of the Liaohe textile. In order to conceal the insider trading of the two accounts of "Li Yue" and "Liufenglin", Yuchunling, in the process of compiling the *ST 2008 interim report, removed the names of the two persons from the list of the top 10 shareholders, causing *st to disclose false information. Zhaoli and Yuchunling are the officers directly responsible for the violation. It is noteworthy that the Yuchunling of insider trading, instead of making money, ended in loss. As a result of the reorganization was not approved, coupled with the market decline and other reasons, the two accounts of the final loss to sell, the amount of loss amounted to millions of yuan, Yuchunling is "lend your Money".
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