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the new network ashore August 29, Zhejiang Electric Shanghai Co., Ltd. Luen Thai Gold since its inception in 2004, without the approval of the capable national authorization,
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prosecution believes that Luen Thai deeds are persistent with the company's operating specifics of futures trading, the China Securities Regulatory Commission Shanghai Futures Exchange Supervision Bureau identified as a masked fashion. According to China's guilty law, without the permission of citizen authorities agree in securities, futures, alternatively assurance commerce, is illegal. Thus, the prosecution of illegal business offenses, and Wang Hao Thai companies such as couplet 5 prosecution.
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the new network on August 29, Zhejiang Xinhua Thai Gold Products Co., Ltd. Shanghai Alliance since its inception in 2004, without the approval of the competent national authority, in 15 cities to attract more than 700 investors, the so-called gold futures investment, trading value surpassing 200 billion yuan. The Shanghai Huangpu District People's Procuratorate,
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in tangible operation, the Luen Thai company uses standardized contract that requires a compact as the sale of 100 ounces, customers tin The form of using margin trading, distant below the merit of the contract to augment the margin trading, up to 60 times. Once the customer deposits to 1,600 yuan a loss occurs the emulating, that is coerced open.
Luen Thai enterprise since March 2004 to May 2006 period, a absolute purchaser gain 723, a total of 2981 million yuan deposits received from consumers. Luen Thai's total gold commerce purchasing, the total selling amount reached RMB 11.9 billion yuan. In the transaction, buyer wastage totaled 2942 million yuan. May 2006, the Shanghai public security authorities fired inquiries couplet Thai company, the company had just ceased actions.
prosecution alleges that in March 2004, Wang Hao proposed along the defendant,
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Luen Thai Since its establishment, without the approval of the competent national authority, without approval to carry out futures trading in disguise. Before the beginning, Wang Hao to chart a set of trading in gold in the label of the operating means of gold speculation, Jin Changnan too amplified a After the prologue, Luen Thai company opened 15 bureaus approximately the country, foreign falsely demanded that two members of the Shanghai Gold Exchange elements, with individual gold trading business proxy qualification paint customers to the public, individual gold futures trading business.