Many mainland investors Koda suffered huge losses

"Koda is born a financial drug" case recently, many mainland investors who had invested in Hong Kong Koda (cumulative stock options) suffered huge losses. In a bull market, Koda Investments can buy bullish stakes for investors at parity, and wealthy individuals who taste the benefits often increase their bargaining chips.　　But the advent of the bear market has sharply magnified the risk of koda accumulation, so many people have been wiped out. "was sold, but also help the number of money" lawyer Rai Jianping claimed two months to come to a law firm, basically do not take business, all day at home reading thinking.　　Since the start of the Koda investment in July 2007, Rai Jianping lost more than 20 million in a year. Speaking of Koda, Rai Jianping's biggest feeling is, "I was cheated, but also help others count money."　　It has to start with the contract.　　2007 Rai Jianping through friends, met the first meeting that he pushed Koda products of the Dutch bank staff zhangning, although the previous strangers, Hong Kong's perfect legal environment and the reputation of the Dutch Bank of the century-old shop, all make him believe zhangning recommendations.　　July 24, Rai Jianping's first capital of $4.2 million reached Zhangning's private bank account in ABN Amro. But Rai Jianping later recalled, "in the process of signing more than 100 pages of all English documents, Zhangning never gave us any explanation and risk hints." Even in the account of her cheating in the opening document we have seen the Chinese version of the opening document. In fact, we have not seen a single document of Chinese characters. "Now, it's not just Rai Jianping a person who regrets that risk consciousness is weak." In 2007, more than 70% of the private banks in Hong Kong bought shares in Koda form.　　According to Lu Zhihua, chairman of the Hong Kong Society for the protection of investors, the maximum cumulative option in 2007 will exceed $600 billion trillion.　　The collapse of the stock market began with the July 27, 2007 deal, and Rai Jianping's turnover was often magnified to several times its investment principal.　　Since then, Zhangning has continued to advise Rai Jianping to carry out a number of contract transactions, totalling 14 contracts, with the cumulative maximum theoretical turnover of HK $ two, which has not been terminated by the end of November 2007. Thanks to the bull market, Rai Jianping had made some "profits" during that period.　　Hong Kong stocks retreated after November 2007, with many Koda-linked hot Chinese shares falling 30%, 40% or even 50%, while those Koda investors, who Rai Jianping them, had to double the amount of shares that had fallen below the price under the contract. Banks are asking for more margin until the margin exceeds the theoretical maximum amount required for performance.　　By March 31, 2008, the ratio between the Rai Jianping account margin and the contract amount had reached 134%. On the afternoon of September 19, 2008, Rai Jianping received a notice from ABN AMRO that its account margin was nearly 4 million yuan, requiring cash to be replenished before September 22, and that all actions that the bank deemed appropriate would be overdue.To "safeguard their interests".　　October 16, the Dutch bank unilaterally forcibly cut warehouse, so far, Rai Jianping investment in the Dutch bank of 21 million Yuan lost almost Jing 21 million of the "tuition" Rai Jianping want to recover losses, but found himself in the Netherlands bank transactions in a regulatory vacuum. Koda belong to overseas products, there is no relevant regulatory agencies.　　According to Hong Kong's requirements, the admission fee of Koda is above HK $8 million, and investors are regarded as "professional investors", which are not subject to the SFC's approval and are therefore not under the supervision of the authorities.　　Rai Jianping An initial investment of HK $4.8 million: In an ideal market situation, the maximum gain for investors would be HK $340,000 and the maximum loss would be HK $ more than 40 million if the market were to fall sharply.　　While the lawsuit between Rai Jianping and ABN Amro continues, he says he is no longer obsessed with the situation.　　He called Koda a natural financial drug, and later learned that the American invention of financial derivatives banned the retail of citizens in Europe and the US, with the main targets being Singapore and Hong Kong, and some of the financial institutions in Hong Kong selling half of them to mainland visitors. Rai Jianping said that 21 million of the tuition fees, bought a "truth": Rather than do Koda, do spot.