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What was the verdict in the first case of China Gold?
At the end of June 2006, two young investors, Fan Wenda and Song, bought and sold "paper gold" by telephone in Jinan Luoyuan Sub-branch of ICBC Shandong Branch, with an original principal of 27,000 yuan and a profit of more than 2 10 million yuan within10 days. However, the huge book was not realized in time, that is, it was forcibly removed by the bank on the grounds of unjust enrichment. Fan Song, who took the roller coaster, had no choice but to appeal to the court, and Luoyuan Sub-branch immediately counterclaimed. At present, the case is awaiting trial.

"As the largest bank in the world after listing, this is a great negative news for ICBC." Wang Jizhou, vice president of Beijing Yihe Xingye Investment Consulting Co., Ltd. told this newspaper that "normal transactions can't have that much profit. The biggest possibility is that there is a technical problem with ICBC's trading software; In this way, the responsibility cannot be passed on to investors. "

Both sides are unusually low-key

On August 29th, an autumn rain suddenly cooled the weather in Jinan from the heat. When the "China Gold First Case" was heated up, the reporter came to the crime scene, which was as unexpected as the weather change: he was given a cold shoulder.

"Never heard of it!" Xiao, executive vice president of Shandong University Law School, looked blank when interviewed by this newspaper.

Coincidentally. Zhang Liming, a citizen of Jinan, speculates on both physical gold and "paper gold". When I met a reporter near quancheng square, he even said, "I don't know." The reporter got the same answer from a number of taxi drivers with the most concentrated similar information, the Legislative Affairs Office of the Shandong Provincial Government and the Shandong Securities Regulatory Commission. I checked the local major media and didn't see any reports.

Director Dang Yali of the Propaganda Department of Jinan Public Security Bureau confirmed to the reporter that someone did report the case at that time, but after investigation, it was considered to be a civil dispute and did not meet the conditions for filing a case.

What is even more incomprehensible is that Fang Fansong, the plaintiff who desperately hopes to get the support of public opinion, has avoided it. The reporter called the newspaper that reported the matter for the first time and was told: "Song Fan has now declared that he will not accept any interviews."

The defendant was also indifferent: after Director Zhu of Luoyuan Sub-branch refused to be interviewed, President Bao of Shandong Branch of ICBC only said that "judicial procedures are being taken at present" and then refused to talk more. Director Xie of the Information Office of ICBC Beijing Head Office refused to elaborate on the grounds that he was unclear.

Ma Jun, a judge of the People's Court of Lixia District, Jinan, said that the case had been transferred to the Intermediate People's Court. According to the case, the bid amount has far exceeded 2 million yuan, and it is very likely that it will not be tried in the local court.

Yuan Xiaojun, a lawyer of Shandong Kechuang Law Firm across the street from Luoyuan Sub-branch of ICBC, believes that reconciliation is the result that both sides are willing to see. Fan Song has received relatively little compensation, and banks can eliminate the adverse effects as soon as possible; Once the lawsuit is lost, hundreds of thousands of litigation costs are too high.

"If there is a settlement, the biggest reason is that both sides have losses." Wang Jizhou said. Some people analyzed in an interview with this newspaper that the plaintiff Fan Wenda's intention was very suspicious: Fan, who worked in Jiangxi, went to Shandong for a business trip and even brought more than 20,000 yuan of spare money, and borrowed Song's ID card to stock in different places, and still used the account card after profiteering. This is against common sense; Even if the loopholes are found harmless at first, repeated operations afterwards are still suspected of profiteering.

Some netizens posted on the Internet that Fan knew the loopholes in the banking system and Song was just a cover for him. Even some netizens simply questioned that this was a rat warehouse. In this regard, the reporter asked many questions and it was not confirmed.

Behind the myth of wealth

In fact, most experts interviewed pointed out that there were serious loopholes in ICBC's operating system, which led to the birth of the wealth myth. This is why ICBC keeps a low profile.

"Obviously there is something wrong with the bank's operating system," said Hou Ning, chief economist of Paifeng Financial Consultant (Beijing) Co., Ltd.

Wang Jizhou's view is similar to that of Hou Ning. He thinks, with Fan Song's identity and background, they simply don't have the conditions to run a rat warehouse, and at present, the domestic gold market has not yet formed the power to appear as a banker.

Regarding Song Fan's hacking and tampering with the transaction procedures of the banking system, Wang Jizhou said: "The security performance of the banking system is very high. Even if it is tampered with, the purchase price can only be as low as MINUS almost the price; Besides, if it is hacked, ICBC will not be so low-key and passive. "

Wang Jizhou reminded reporters that if margin trading is implemented, it is not impossible to leverage 2/kloc-0,000,000 profits with 27,000 yuan within/kloc-0,000 days. However, the reporter learned from the personal business department of ICBC Shandong Branch that ICBC's "paper gold" business did not implement the deposit system.