From the day when the criminal law amendment was implemented, the good days of the fund mouse warehouse ended.
20 10 On September 6th, the CSRC announced that Han Gang, the former fund manager of Great Wall Fund, was transferred to judicial organs for criminal responsibility.
Han Gang, who has been transferred to judicial organs, took advantage of his position to make money by tracking the sale of Baima shares in the fund he managed. Because of the large profits, it was seized by Shenzhen Securities Regulatory Bureau and transferred to judicial organs for criminal responsibility.
Han Gang may become the first fund manager who may be investigated for criminal responsibility since the implementation of the Seventh Amendment to the Criminal Law of People's Republic of China (PRC). Han Gang was neither the first nor the last. Behind Han Gang's detention, it shows that the regulatory authorities have begun to deter the capital rat warehouse.
Hangang mouscang
Han Gang Rat Warehouse was exposed in September, 2009, and the Shenzhen Securities Regulatory Bureau has not announced the results of his handling. On September 6, 20 10, the results announced by the CSRC shocked the market.
On June 6th, 2009, Han Gang, who was only 36 years old, was appointed as the fund manager of Great Wall Jiufu Fund. Prior to this, Han Gang was the manager of Great Wall Jiuheng Fund and the general manager of Great Wall Fund Research Department. Seven months later, in August, 2009, Shenzhen Securities Regulatory Bureau conducted a surprise inspection on the practice of fund managers of four fund companies in the jurisdiction/KLOC-0. During this inspection, it was discovered that Han Gang had set up a rat warehouse privately.
During the inspection, Shenzhen Securities Regulatory Bureau found that Tu Qiang, the fund manager of Jing Shun Great Wall Fund Company, and Han Gang and Liu Hai, the fund managers of Great Wall Fund Company, were suspected of using non-public information to buy and sell stocks, and the amount of their accounts ranged from several hundred thousand yuan to several million yuan. Three fund managers set up rat warehouses privately, which is the biggest scandal in the fund industry after the fund shady.
According to the published transaction details of Tu Qiang and Liu Hai, the stocks bought and sold by these two funds are mainly small and medium-sized heavyweights. According to the data of the first quarterly report and semi-annual report published by Great Wall Jiufu before the on-site inspection in August 2009, the funds of Hangang are all white horse shares, and there are no st shares and restructuring shares.
As can be seen from the previous 10 stocks, there were five stocks in the first quarterly report and the semi-annual report, especially after Han Gang took over Great Wall Jiufu, he began to increase his position in automobile stocks. FAW Fu Wei and Huayu Automobile became the sixth and eighth stocks, holding1.1.50 million yuan and1.90 million yuan respectively.
According to the transaction data of the semi-annual report in 2009, FAW Fu Wei and Huayu Automobile are also the fourth and fifth buyers, from which it can be seen that Han Gang is very optimistic about these two stocks. Although we can't know the trading information of Han Gang's relatives' accounts, we can't rule out the possibility of buying and selling these two stocks.
After receiving the inspection results from Shenzhen Securities Regulatory Bureau, the CSRC immediately put Han Gang and other three people on file for inspection. On September 22nd, 2009, Han Gang was suspended.
20 10 On September 6, the CSRC announced that Han Gang took advantage of his position as a fund manager to operate the securities account opened by his relatives in collaboration with others, and bought and sold the same stock several times before or simultaneously with Jiufu Fund managed by Han Gang, making huge profits, and was transferred by the CSRC to judicial organs for criminal responsibility.
The first person in the fund industry rat warehouse was sentenced.
Three former fund managers, Jing Shun Great Wall, Tu Qiang, Liu Hai and Han Gang, were put on file by the Securities and Futures Commission for investigation on suspicion of "rat warehouse" trading, and their punishment decisions were officially announced on May 22nd, 201/year. Tu Qiang and Liu Hai confiscated their illegal income, imposed different degrees of fines and were banned from the market. Han Gang was transferred to public security organs for criminal responsibility. This is also the first case in China stock market that was transferred to the public security organs for criminal responsibility for allegedly using undisclosed information transactions to violate the criminal law.
Shenzhen Futian District People's Court made a public judgment on the case that Han Gang, a fund manager, was suspected of trading with undisclosed information, sentenced Han Gang to one year's imprisonment, confiscated his illegal income and fined him 3 10000 yuan. This case became the first case in China in which fund practitioners were investigated for criminal responsibility for using undisclosed information for illegal transactions.
Murder the warehouse, kill people with criminal law
In the history of China's fund industry, Han Gang was the first person to be transferred to judicial organs for criminal responsibility.
Han Gang was not the first person killed by the CSRC. On the fund rat warehouse list, there are former Morgan Stanley fund manager Tang Jian, southern fund manager Wang Limin, Rongtong fund manager Zhang Ye, Great Wall fund manager Liu Hai and Jing Shun Great Wall fund manager Tu Qiang. However, the CSRC did not transfer the fund manager suspected of rat warehouse to judicial organs for criminal responsibility, but imposed fines and administrative penalties.
Han Gang, Liu Hai and Tu Qiang were investigated by the CSRC at the same time, but they ended in different endings. The fundamental reason lies in the suspected rat warehouse transaction between Liu Hai and Tu Qiang, either the amount does not constitute a criminal offence or the transaction occurred before February 28, 2009.
The introduction of the criminal law amendment has become a deadly steel knife on Han Gang's head.
Han Gang became the manager of Great Wall Jiufu Fund for more than a month. On February 28th, 2009, the 11th the National People's Congress Standing Committee (NPCSC) passed an amendment to the criminal law, which will take effect from the date of adoption. The amendment to the Criminal Law adds a paragraph to Article 180 of the Criminal Law, which is called "the crime of trading with undisclosed information".
If the circumstances are serious, the amendment to the Criminal Law stipulates that it shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and a fine of not less than one time but not more than five times the illegal income; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall be fined not less than one time but not more than five times the illegal income.
In the announcement of the CSRC, the profit amount, stocks and transaction details involved in the Han Gang case were never involved, but the transaction time of the suspected rat warehouse happened just after the formal implementation of the criminal law amendment, and the amount during the period would be relatively large.
Han Gang was investigated for criminal responsibility, which has a deterrent effect on the capital market, but it is of great significance.
According to the provisions of the Criminal Law Amendment (VII), not only fund companies, but also employees of financial institutions such as stock exchanges, futures exchanges, securities companies, futures brokerage companies, commercial banks and insurance companies, as well as staff of relevant regulatory departments or industry associations.
In the inspection of Shenzhen Securities Regulatory Bureau, the amount of the suspected account is only between several hundred thousand yuan and several million yuan, but it is unlikely that Han Gang will make tens of millions of profits by using the information of non-public transactions. Compared with the illegal profit of hundreds of millions of yuan from the reorganization of non-public information in the capital market, it can set an example for others.
At the same time, it also sounded the alarm for fund managers and the fund industry. Fund companies have more than 8,000 employees, 62 fund companies have 700 fund products and more than 500 fund managers. This group has shown high mobility since 2065,438+00. By July 30th, 1965, 227 fund managers of 59 fund companies had left their jobs at 438+00.
It is inevitable that people will be mixed in and out. Han Gang is the first one, but certainly not the last one, which has a greater deterrent effect on peers in the fund industry. The largest case of "Rat Warehouse" in China and the first case of "Rat Warehouse" in Shenzhen (2012.4.21) were heard in Shenzhen Intermediate People's Court. Ma Le, a former boss select fund manager, was accused of using undisclosed information to illegally buy and sell stocks. Yesterday's trial lasted two hours, and Ma Le confessed.
The trial revealed how Ma Le manipulated the "rat warehouse" for two years, and made an illegal profit of 6,543,800 yuan.
Ma Le, the protagonist of the "Rat Warehouse" case, which was tried on February 2, 20 14, was only 32 years old. Because of a crisis, he was ordered to make Bosera Select Fund a man of the hour in the fund industry, but in July 20 13, Ma Le was accused of operating a "rat warehouse". Upon investigation, Ma Le illegally operated three stock accounts of "Jinmou", "Yanmoujin" and "Yanmouwen" during the period of being the manager of Bosera Select Stock Securities Investment Fund under Bosera Fund Management Co., Ltd. from March 9, 20 1 year to May 30, 201year ... the purchase and sale amount was * */. The people's funds were regarded as personal stock "sedan chair", which is a typical "mouse warehouse", and was prosecuted by the procuratorate for using undisclosed information transactions.
Manipulating the "rat warehouse" was not characterized as a criminal offence until the implementation of the Criminal Law Amendment (VII) in February 2009, and the corresponding charge was the crime of trading with undisclosed information. There have been many trial cases of "Rat Warehouse" in China, but in Shenzhen, Ma Le case is the first case, also known as the first case of "Rat Warehouse" in Shenzhen, and the transaction amount and profit amount involved in Ma Le case are the same.
In the court hearing on February 20th14 and February 20th1day, Ma Le cooperated very much and pleaded guilty from beginning to end. He has no objection to the criminal process and the amount listed in the indictment, and fully recognizes the large amount of evidence listed by the prosecutor. He not only shed tears when the defense lawyer defended, but also expressed deep regret in his final statement. During the two-hour trial, Ma Le's self-defense and his defense lawyer's speech focused on the crime.
Ma Le is a person from a poor student to a funder.
Ma Le, 32, was born in a poor family in rural Henan. In Ma Le's final statement, he described it as "17 years of hard study in the cold window", and he completed his undergraduate and master's studies in Tsinghua University with scholarships and work-study programs.
On March 8, 201/kloc-0, 29-year-old Ma Le was appointed as the manager of Bosera Select Stock Securities Investment Fund. At that time, the ranking of funds in the industry was only about 90%. After taking over the fund, "I really took this fund as my life, because it worked overtime day and night, gave up many holidays, and even couldn't sleep at night." Ma Le said in court that his body was overdrawn and he had suffered from secondary hypertension, severe lumbar disc herniation and low back pain all night before he was 30 years old.
But he also believes that his efforts have paid off, and the performance of the fund has rapidly increased to the top 24% of the industry. 20 1 1, the fund is in the top third of similar funds. For a large-cap fund of nearly 654.38+0 billion yuan, this is a remarkable achievement. Therefore, Ma Le has become a man of the hour in the fund industry and is regarded as an inspirational case for rural children to become successful people. Thanks to his outstanding performance, Ma Le's income has also increased. According to the data, Ma Le's annual salary has exceeded 2 million yuan. The largest rat warehouse case in China set a new record in Guangzhou. On June 5, 2006, the Guangzhou Municipal People's Procuratorate announced that the Chen Mou citizen who had filed a public prosecution was sentenced to four years' imprisonment by the court of first instance, fined RMB 28.3 million and recovered the defendant's illegal income of RMB 28.2605727 million. The Chen Mou citizen case involved the sale of 87 stocks, with a turnover of 654.38+0.8 billion yuan and an illegal profit of 28.26 million yuan. It is the largest rat warehouse case in China at present.
According to the Guangzhou Municipal People's Procuratorate, as the largest rat warehouse case in China at present, the Chen Mou citizen case involves using undisclosed information to engage in securities trading activities related to this information. The number of stocks bought and sold reached 87, the transaction amount reached 1884084756.25 yuan, and the illegal profit amount reached 28260587.27 yuan. The case was investigated by the Securities Crime Investigation Bureau of the Ministry of Public Security, and the Guangdong Provincial People's Procuratorate appointed the Guangzhou Municipal People's Procuratorate to review and handle it. On September 7th, 20 15, Guangzhou people's procuratorate filed a public prosecution with Guangzhou intermediate people's court, and the case was heard in Guangzhou intermediate people's court on October 6th, 20 1 10. 2065438+On March 1 day, 2006, the CSRC announced that Zhang Peng had successively worked as a senior analyst, fund manager and researcher in Shenwan Lingxin Fund Management Co., Ltd. (formerly Shenwan Paris Fund Management Co., Ltd.), and Zhang Peng and his wife Yang Moyan controlled the use of Liu's account. During Zhang Peng's management of the New Power Fund, after the New Power Fund bought and sold stocks, Zhang Peng operated Liu Moxiu's securities account to buy and sell the New Power Fund at the same time or successively. According to the provisions of Article 233 of the Securities Law and Article 5 of the Regulations on Prohibited Access to the Securities Market, it is decided to take a five-year ban on Zhang Peng.
The profit from operating the "Liu" securities account totaled 448,500 yuan. Among them, Shanghai traded 16 shares, with a turnover of151526,000 yuan and a profit of 240,800 yuan. 20 stocks in Shenzhen were traded together, with a turnover of 65.438+06.5544 million yuan and a profit of 207.7 million yuan.
The CSRC believes that during his tenure as the manager of New Power Fund, he used his undisclosed information to operate Liu's securities account, which violated the provisions of the Securities Law that directors, supervisors, managers and other employees of fund managers "shall not engage in securities trading and other activities that harm the interests of fund property and fund share holders". Therefore, Zhang Peng was banned from entering the market for five years. During the forbidden period, no one may engage in securities business or serve as a director, supervisor or senior manager of a listed company.