Why is the president playing with money?

Tang Xiaogo abuse case is not a case, but a social phenomenon. As a result of the current low profit margins, short-term, speculative financial management can be a large profit, a large amount of speculation profits lured by many state-owned enterprises and listed companies violate the market, the reporter Chawenming Our correspondent small long October 12, Hunan Province, the People's Court criminal division,　　Xiangtan Commercial Bank Former president Tang Xiaogo wearing a yellow vest, dejected sitting in the defendant's seat, the former prestige has long been missing traces. This year, the 45-year-old Tang Xiaogo former Xiangtan Commercial Bank Co., Ltd. party secretary, Chairman, President (at the level of cadres), was the Xiangtan deputies. For alleged abuse of power crime, bribery crime, huge property source unidentified crime was You County People's Procuratorate case investigation.　　You County People's Procuratorate accused, Tang Xiaogo suspected to use the right money trade wantonly, accepting bribes amounted to 2 million yuan, at the same time suspected of unauthorized, entrust financial management, resulting in economic loss of 135 million yuan. Entrusted to finance financial losses of 135 million yuan as early as 1997, the State Council Securities Commission, the People's Bank of China, the State Economic and Trade Committee issued a joint "on the prohibition of state-owned enterprises and listed companies speculation shares," state-owned enterprises and listed companies may not speculate on stocks, not to use the bank credit　　Nor should funds be provided to other agencies to speculate on stocks. From 2001 to 2004, Tang Xiaogo as the president of Xiangtan firm, the ban on the FRY is known, but in the lure of huge profits, Tang Xiaogo or made a bold decision, with the then chairman Chen MoU, vice president of a (two people Shang deal) with the financial planning manager Deng,　　In the case of the board of directors of Xiangtan firm and the decision of the general meeting of the shareholders, they decided to carry out the entrusted financing business with several securities companies without authorization, and the financial funds amounted to 1 billion RMB. October 2004, due to the investment of a securities company in Shenzhen, 200 million yuan capital faced with the risk of being unable to recover, Tang Xiaogo and other people on the Xiangtan of a grain and Oil Trading Co., Ltd. and the name of an Asset Management Co., Ltd. in Hunan, each loan in the bank 100 million yuan, set out 200 million of funds to two enterprises to buy bonds in the name of a securities company in Shenzhen, A securities company in Shenzhen subsequently paid 200 million yuan for Xiangtan firm in the securities company's 200 million yuan entrusted financial funds.　　Tang Xiaogo and other people in this way successfully saved 200 million funds. However, the risks are not fundamentally eliminated.　　In late December 2004, government bonds purchased in the name of two of companies also faced the risk of being difficult to honour, Tang Xiaogo and other people would like to convert the national debt into stock, but due to a serious shortage of funds in Shenzhen Securities Company, 200 million shares were forcibly closed, until the bankruptcy of a securities company in Shenzhen, Xiangtan firm and nearly 135 million yuan has not been recovered. The right money transaction receives the bribe to 2 million apart from entrust the finance without authorization, Tang Xiaogo in the end of 2000 to 2009, as the president of Xiangtan, the Chairman of the Board of Directors, in the issuance of loans, infrastructure renovation project, employee recruitment process, for others to seek benefits, illegally receiving property equivalent to RMB more than 1.9 million yuan and the value of RMB more than 200,000 yuan shop façade and other valuable items. To Tang Xiaogo bribe most is to thank Tang Xiaogo in the loan to help, borrow the New Year festival, birthday celebration of the machine, to Tang Xiaogo send money to send things. Beijing Investment Consulting Co., Ltd. Zhao 1998 years to know Tang, because engaged in the project contracting business, often need a large amount of liquidity, many times to find Tang help, Tang also can always in the key moment to solve the money problem, one to two, good relationship, Zhao also often borrow congratulations birthday, the name of the festival many times to the Tang money,　　In 2004 heard that Tang wanted to buy a house in Beijing, Zhao immediately busy before running, for Tang to find a good real estate, and actively pay for the purchase of money and decoration more than 300,000 yuan, Tang one by one consultation fee.　　Xiangtan, a construction boss Lee in order to thank Tang Xiaogo in Xiangtan firm Decoration Project on the care, between 2005 to 2009 period 5 times to Tang cash to 180,000 yuan. Send money to all kinds of people, send the goods are dazzling, but don not every time to accept so relieved. In the second half of 2009, Tang felt uneasy, always worried about the problems, then began to refund some of the money to deceive, and get some peace of mind.　　In late September, Tang returned an investment company in Hunan province Peng a RMB 400,000 yuan, refund a construction company project manager Zhang more than 130,000 yuan. By the end of the investigation, Tang Xiaogo still had a huge income to explain the source. As of September 2009, the Tang family property amounted to RMB more than 15 million yuan, excluding the wages and benefits of family members and other legitimate income and can be accounted for the source of property, there is an equivalent of RMB more than 3 million yuan can not explain the legitimacy of the source.