Xinhua News Agency, Beijing, April 24 (Reporter Liu Hui) The Securities Regulatory Commission said on the 24th that since 2019, the financial fraud of listed companies has been severely cracked down. A total of 22 listed companies have been investigated for financial fraud and administrative penalties have been imposed on 18 typical cases. , Transferred 6 suspected criminal cases of financial fraud to public security organs.
Information from the China Securities Regulatory Commission shows that the financial fraud of these listed companies mainly presents four characteristics.
First, the fraud cycle is long and the amount involved is large. After investigation, Soling shares fabricated overseas business for three consecutive years from 2016 to 2018, and forged receipts for receipts, thereby inflating huge profits.
The second is concealed and complicated means. After investigation, Zangge Holdings colluded with hundreds of customers from July 2017 to 2018, and used the particularity of bulk commodity trade to implement fraud.
The third is the prominent systematic fraud. After investigation, Longli Biotechnology falsified the company's profits from 2015 to the first half of 2017, and regularly implemented fraud by deleting and revising the financial accounting books.
Fourth, the subjective viciousness is obvious. After investigation, Dongfang Jinyu used the wholly-owned Sun Company as the platform from 2016 to the first half of 2018 to fictitiously purchase and sell jadeite rough, and achieved performance goals through fraud.
In addition, the financial fraud of listed companies is often accompanied by other illegal and criminal acts that seriously damage the interests of investors, such as failure to disclose major information according to regulations, illegal use of funds of listed companies by major shareholders, and intermediaries such as auditing and evaluation fail to diligently perform their duties and "gatekeeper" The problem of lack of function remains outstanding.
The China Securities Regulatory Commission said that the next step will be to crack down on listed companies' financial fraud, fraud and other vicious violations, make full use of the new securities law, concentrate law enforcement resources, strengthen law enforcement, and strictly pursue the legal responsibilities of relevant institutions and personnel. In order to increase the cost of securities violations of laws and regulations, those suspected of criminal offences are transferred to public security organs in accordance with the law, resolutely purify the market environment, and protect the legitimate rights and interests of investors.