China News Service, Beijing, February 4 (Reporter Zhang Su) "Investor protection is the top priority in handling securities cases." Zhang Xiaojin, director of the Fourth Procuratorate of the Supreme People's Procuratorate of China, said in an interview on the 4th.
According to statistics, from January to November 2023, procuratorial organs nationwide prosecuted 319 people for 117 securities crimes, a year-on-year increase of 42.7% and 12.7%. The Supreme People's Procuratorate supervised the handling of 8 major criminal cases involving private equity funds, and jointly supervised the handling of 12 major financial fraud criminal cases with the Ministry of Public Security.
Zhang Xiaojin mentioned a number of cases with major social impact handled by the judicial department, such as Zhangzidao, Kangdexin, Longli Biotech, and Huitian New Materials. "In the Zhangzidao financial fraud case, the former chairman Wu Hougang was sentenced to 15 years in prison, and the former general manager, deputy general manager, financial director, and secretary to the board of directors were all held criminally responsible, forming a strong deterrent." He said.
Talking about the protection of investors, Zhang Xiaojin said that the procuratorial organs have strengthened their cooperation with relevant departments such as the China Securities Regulatory Commission, public security, and courts, to supervise the seizure, seizure, and freezing of property involved in the case, and to urge and guide those involved in the case to actively return the stolen goods and compensate for compensation. In addition, the procuratorial organs support the litigation of special representatives in securities disputes in accordance with the law and protect the rights and interests of investors through multiple channels.
According to other statistics, in the first 11 months of 2023, the procuratorate approved the arrest of 11,060 people for crimes that disrupted financial management order and financial fraud, and prosecuted 22,529 people. The crimes involved were relatively concentrated in illegal fund-raising crimes, fraudulent loan crimes, etc.
Zhang Xiaojin said that in the next step, the procuratorial organs will continue to increase the intensity of punishing financial crimes in key areas, insist on "pursuing all crimes" and improve the working mechanism for recovering stolen goods and recovering losses, and improve the financial crime prosecution system and mechanisms.
This year, the Supreme People's Procuratorate will also organize a special campaign of "Procuratorial Protection of Enterprises" to implement a "package" of prosecutorial measures such as promoting the development and growth of the private economy and preventing and punishing crimes that infringe corporate interests in key positions of private enterprises.
Zhang Xiaojin said that the procuratorial organs will continue to adhere to the combination of punishment and governance. On the one hand, we must handle cases strictly in accordance with the law, and punish and prevent crimes against corporate interests such as job embezzlement, misappropriation of funds, and transfer of interests by internal personnel of private enterprises, especially those in key positions. On the other hand, we must continue to strengthen case filing supervision and resolutely prevent and correct exploitation. Criminal means intervene in economic disputes and promote the construction of internal control and supervision mechanisms for private enterprises focusing on compliance construction. (over)