Salt Lake takeover case drags on for three years

Xinhua Guangzhou, September 19 (Xinhua) Guangdong Huamei Group chairman, former Forbes rich list of rich Zhang Keqiang suspected fraud has been detained for nearly three years, the industry known as Salt Lake Acquisition case.　　Although the relevant prosecutors in 2011 to prosecute the case, but Zhang Keqiang whether the crime is still inconclusive, three years involved in the value of the shares shrank more than half. Share assets shrink seriously as of September 18, 2013, Salt Lake shares closed at 19.09 yuan/share, the company's 29.6794 million shares of the market value of less than 700 million yuan, less than the maximum value of the market capitalisation of 1/10.　　March 11, 2008, St. Salt Lake after the day of the resumption of 30.2 yuan, the Sino-US group subsidiary of the Sino-US harvest and other related parties to hold the St Salt Lake stock market value of more than 5 billion yuan, in the subsequent period of time the stock market value of up to 7 billion yuan. "The stakes have all been frozen because of lawsuits," he said.　　"Huamei Group's president Chen Jinlong said. The relevant evidence material shows that June 30, 2006 Qinghai Salt Lake Group to raise capital to increase the share of foreign funds 1 billion yuan. Shenzhen Xing Yun Letter Company and Salt Lake Group signed a framework agreement, agreed to Shenzhen Xing Yun letter investment 200 million yuan to subscribe to Salt Lake Group shares. This framework agreement of Xing Yunxin is not funded by the above mentioned project because it is rejected by the superior unit. Huamei Harvest Company, Shenzhen wo wo Company, natural person Wang Yihong and Shenzhen Xing Yun letter of the original shareholder unit cloud investment company to reach the intention, by the gorgeous harvest Company, Wang Yihong and wo to buy Hing Yun letter 100% Equity, and the actual contribution of 329 million yuan to Xing Yun letter in the name of Salt Lake Group investment.　　In the case of the acquisition of the shares of Hing Yun, the stock rights and interests of the 329 million yuan are entrusted to Shenzhen Xing Yun letter and Management as trust property. Kunming People's Procuratorate charged that the Salt Lake group to increase its share of shares only for state-owned enterprises, the rich and colorful private capital not to become Salt Lake Potash shareholder status, in the face of huge economic interests, the illegal possession of state-owned assets of the purpose of equity.　　By Song and the Salt Lake Group and Qinghai countries to sign an increase in capital expansion and acquisition of equity agreements, the successful acquisition of Salt Lake Group after the defendant Zhang Keqiang and other people to register in Xingyun company name of the Salt Lake Potash shares of illegal possession, instigated Song and others to find ways to complete the acquisition of Hing Yun Letter Company, to achieve the full possession of Salt Lake shares. Zhao Bingzhi, chairman of the Society of Criminal Law of the Chinese Law Society, said that the Salt Lake Group's capital increase and share offering conditions clearly confirmed that the Salt Lake Group project did not restrict the investor's subject qualification. In addition, the parties do not exist in the case of property losses, the magnificent harvest and other private capital paid the investment in full, to achieve the Salt Lake Group and Qinghai state investment through the increase in shares and equity transfer to finance the purpose of the contract.　　The case does not exist the loss of state-owned assets and the property damage of the state-owned enterprises, without infringing on the property rights of either party. The enterprises involved in the case are very difficult to develop according to the Criminal Procedure Law, the People's Court shall hear the cases of public prosecution within one months after receiving the first instance.The sentence shall not exceed 1.5 months at the latest. If any of the circumstances specified in article 126th of this law is approved or decided by the higher People's Court of the province, autonomous region or municipality, it may be extended for another one months. Zhu Zhengfu, director of the National CPPCC and the Oriental Kunlun law firm, said that Zhang Keqiang was prosecuted on September 9, 2011 and that the court should make a first-instance judgment before December 24, 2011, and that the court had not yet made a judgement until December 29, 2011,　　It was therefore suspected of prolonged detention between December 24, 2011 and December 31, 2012. In addition, Zhang Keqiang's family and defense attorneys have repeatedly submitted bail-pending or altered coercive measures to the Kunming Intermediate People's Court in accordance with relevant legal provisions.　　However, the Kunming Intermediate People's Court did not take heed, neither approved its application nor the reasons for not approving the application. Chen Jinlong revealed that after Zhang Keqiang was detained, the enterprise operation and its school operation has a serious crisis. Plans to invest more than 2 billion yuan, located in Guangzhou High-tech Development Zone, the core of the Huamei group of Business Center is an important part of the business center in the region, because the company's largest shareholder Zhang Keqiang was detained, unable to carry out key decisions, became a "uncompleted" project, more than 300 businesses can not be settled on schedule.　　Chen Jinlong also revealed that the group's operating institutions and Canada, Britain, the United States and Germany jointly with the teaching project stalled, have been in trouble, nearly thousands of employees face unemployment, students and parents have strong views. The improvement of system should focus on enterprises is the main driving force to attract employment to promote economic development, and protect the legitimate rights and interests of entrepreneurs is an important basis to promote the healthy and sustainable development of economy.　　Relevant experts believe that we should strive to improve the relevant system and protect the legitimate rights of the enterprises involved in the law. Liu Guiming, chief editor of the Journal of Democracy and the rule of law, said that after private entrepreneurs were suspected of committing crimes, their personal and property protection embodied the civilized level of society. Including procedural rights, evidence rights, entity rights should be protected, this can not only be a judicial principle, more should be the work of the normal, should form such a system in each case. "In the Salt Lake purchase case, Zhang Keqiang was detained for three years without a verdict, first of all to reflect the criminal suspects procedural rights were violated." "Guangdong International Investment Law Advisory Center Director Shen Minfeng proposed detention facility to establish a" proof of detention, in the proof of specific reasons to determine the specific period of detention, by the detention center directly under the "proof of custody" on the deadline to decide whether to release people. The system has the guarantee to reduce the judicial cost.