In the case of labor fund stock speculation, You Yiwen, the former head of the Ministry of Labor, appeared in court. (Photo by reporter Wang Yisong)
2022/08/19 10:14
[Reporter Zhang Wenchuan/Taipei Report]You Yiwen, the former head of the domestic investment group of the Labor Fund Utilization Bureau of the Ministry of Labor, was accused of cooperating with Tang Chulie, the then CEO of Baojia Group and others, to manipulate labor funds and undertake Baojia Group’s “destruction” at a high price. The sale of 180,000 Far East Department Store stocks made Baojia a profit of about 450 million yuan. The Taipei District Prosecutor’s Office indicted 12 people for corruption and other crimes; all 12 people denied the crime during the trial. The Taipei District Court today sentenced You Wenyi to 9 years in prison and 5 years of deprivation of public power for the crime of indirectly manipulating stock prices. Baojia Tang Chulie and investment director Qiu Yuyuan were both sentenced to 8 years for the crime of buying stocks at a high price according to the securities exchange law. Qiu Mingqiang and deputy general manager Liu Jianxian were each sentenced to 4 years and 3 years and 8 months for breach of trust in accordance with the Investment Consultation Act. Appealable.
The remaining 7 defendants, Que Zhichang, deputy general manager of Uniform Investment Trust, and Sun Mincheng, the manager, were sentenced to 3 years and 8 months for the crime of betrayal of trust, manager Guo Shiqing was sentenced to 3 years and 4 months for the same crime, and researcher Yu Jianye was sentenced to 8 months for forging documents; In October; Xie Zhiying, deputy general manager of Qunyi Investment Trust, and Tang Mingzhen, a mutual fund manager, were found not guilty. The collegial panel also announced to return or confiscate the illegal income of Baojia Group of 538.79 million yuan. Qunyi Investment Trust is the only company that has been found not guilty among the three investment letters involved in the case.
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On February 8 last year, the Taipei District Prosecutor’s Office indicted 12 officials and businessmen on charges of “receiving improper benefits and profits”, violating the Securities Investment Trust and Consultant Act, and the Securities Exchange Act under the Corruption Offences Act. After the incident, the Ministry of Labor has also dismissed him for two major demerits.
The inspection found that Baojia Group bought 180,000 Yuanbai shares in May 2019. During the severe COVID-19 epidemic from May to July 2020, the stock began to be sold, but the sales volume was not as good as expected. Qiu Yuyuan, Director of Baojia Investment Went to You Yiwen, a college senior who traded the labor fund in the Labor and Finance Bureau, and lobbied to use the labor fund to take over Baojia’s shareholding in Yuanbai.
After You accepted the high-end private kitchen banquet, he asked the cooperating brokerage brokerages such as Fuhua, Uni-President, and Qunyi Investment Trust to cooperate with the purchase of Yuanbai stock on 17 trading days between July and August 2020. He placed the order at a low price but did not buy it, and was publicly scolded by You Jinwen in the morning meeting for several minutes. According to the prosecutor’s statistics, with this assistance, Baojia Group successfully dumped the goods, with realized and unrealized profits totaling 270.16 million yuan, and another profit of more than 180 million yuan due to stock speculation, with a total of about 450 million yuan.
During the trial of the North Court, the 12 defendants pleaded not guilty. The main reasons for the defense include: after professional evaluation and judgment, they decided to buy Yuanbai stock, not privately, or they believed that the prosecutor’s evidence was insufficient, did not meet the elements of the crime, and the evidence Determining that there is a problem, or arguing that he was not coerced or instructed by You Youwen, that he did not profit, etc.
During the investigation, many people were detained, and they were released on bail after being transferred for trial. Tang Chulie paid 10 million yuan on bail, Qiu Yuyuan, Qiu Mingqiang, and Liu Jianxian each paid 5 million yuan on bail. , are restricted from living in and out of the country, and report to the police station on a weekly basis.
The collegial panel of the North Court was composed of trial Jiang Junyan, judges Lin Yongru, and Lin Yancheng. The debate began in April this year. Prosecutor Weng Peixian prepared more than 200 pages of complaints and briefings, discussing their respective crimes and evidence one by one, and criticized You Yu. Wen Wei planned to be promoted. He bullied his subordinates internally and abused his power externally, causing losses to the labor fund. After the crime, Tang Chulie and others all pretended to be sophistry. 3 persons were severely punished. The North Court concluded the judgment today.
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