Huang Guangyu was sentenced to 14 years' fine and confiscation of 800million yuan

It took a year and a half for the first instance to identify three crimes, and the amount of fines and confiscations reached a new high since the founding of the country

Yesterday morning, Huang Guangyu's case was adjudicated in the first instance of the second intermediate people's Court of Beijing. The court found that Huang Guangyu, accused by the prosecution, was guilty of three crimes: illegal business operation, insider trading and unit bribery. He was punished for several crimes and decided to be sentenced to 14 years' imprisonment, with a fine of 600million yuan and part of his property confiscated of 200million yuan. Whether Huang Guangyu will appeal is unknown.

After trial, the Beijing Second Intermediate People's court found that from September to November 2007, Huang Guangyu illegally exchanged more than 822million Hong Kong dollars in violation of relevant state regulations.

From April to September 2007, as the actual controller and director of Beijing Zhongguancun Science and technology development (Holdings) Co., Ltd., Huang Guangyu instructed others to use 85 stock accounts under his actual control to purchase the company's shares during the period of deciding on the assets reorganization and replacement between the company and other companies, with a cumulative turnover of more than 1.415 billion yuan. As of the announcement date of the above asset restructuring and replacement information, the book income of the above stock account was more than 309million yuan.

In addition, from 2006 to 2008, as the legal representative of Gome and Pengfang, Huang Guangyu, in order to seek illegitimate interests for the two companies, directly or under the instigation of others, gave money and goods equivalent to more than 4.56 million yuan to five national staff members including Xiang huaizhu. The second intermediate people's Court of Beijing made the above judgment according to law.

Huang Guangyu's wife Dujuan, who had previously been released on bail, was given a three-and-a-half-year sentence and fined 200million yuan. This means that cuckoos will be imprisoned. It is understood that the property punishment of the three defendants in the Huang case totaled 1.1 billion yuan, which is also the highest amount of personal fine imposed since the founding of the people's Republic of China.

It has been one year and six months since Huang Guangyu was taken away by the police for investigation on november19,2008. (comprehensive)

analysis

The identification boundary of the three charges is clearer

There are few precedents for the three charges in Huang Guangyu's case, which makes the prosecution and the defense have a huge dispute on whether it constitutes a crime. On the 18th, the court ruled that the three charges were all convicted, which to some extent drew a clear line between crime and non crime.

For the crime of insider trading, the Defense said that Wong Kwong Yu did not make profits to cash out, which was not in line with the characteristics of short-term speculation using inside information. He bought Zhongguancun stock to hold it for a long time, not insider trading. During his trial, Huang said that nearly 70% of the more than one billion yuan he invested in Zhongguancun stock had been lost.

The prosecution believes that as long as the insider trades the stock during the sensitive period of stock price, it is insider trading unless there is evidence to the contrary. Huang Guangyu didn't make a profit because of reasons other than Huang Guangyu's will, such as the decline of the market, the state regulation of real estate, and the investigation of the CSRC. Objectively, he failed to make a profit, not because Huang Guangyu didn't want to make a profit. The crime of insider trading is not based on the result, and profit is not the only element of the crime of insider trading. If the transaction amount reaches 500000, it can be prosecuted.

In addition, with regard to the crime of illegal business operation, the prosecution believes that the crime of illegal business operation can be convicted as long as the amount of illegal foreign exchange trading outside the designated trading place of the state reaches the prosecution standard of 200000 US dollars.

With regard to the crime of unit bribery, the prosecution's opinion is that it does not deny that the results of Pengrun loan fraud case and Gome tax case are correct, but it cannot be inferred that Huang Guangyu initially sought legitimate interests because the results were legitimate. Huang Guangyu's request that Xiang huaizhu illegally provide help in handling the case and inquire into the facts of the tax case is to seek illegitimate interests.

scene

Huang Guangyu is very calm and his relatives are very excited

Although the sentencing time was 9:30 a.m., early yesterday morning, a dozen police cars parked outside the second intermediate people's Court of the city, and the police in police uniforms pulled up the cordon outside the court. In the hospital, a number of bailiffs and policemen guarded the entrance of the second court on the first floor where the sentence was to be pronounced.

Standing in the dock, Huang Guangyu had a crew cut and a suit. His expression remained calm during the sentencing. Hearing the verdict, Huang Guangyu did not immediately say whether to appeal, saying that he would go back and consider it.

At about 10 a.m., yangzhaodong, Huang Guangyu's defense lawyer, walked out of the court and was immediately surrounded by many reporters. "It was a heavy sentence. However, Huang Guangyu himself should be prepared for the result."

Huang Guangyu's two younger sisters and his mother were present. They were quite emotional and thought that the punishment was too heavy, but they did not make any more representations in court. Yangzhaodong met with Huang Guangyu on the afternoon of the 18th to seek his own opinions on whether to appeal.