Evergreen Marine Zhang Guohua was charged with insider trading and the Financial Supervisory Committee spoke out

FTV News/Comprehensive Report

On June 19 last year, the Board of Directors of Evergreen Line decided to dispose of the shares of EVA Airways. Afterwards, Director Zhang Guohua of Evergreen Line bought a large amount of Evergreen Line shares in his own name before the major news was announced, which raised concerns about insider trading. Shareholders also went to the Securities and Futures Bureau to report to the Financial Supervision Commission. The mechanism failed. In this regard, the Financial Supervisory Commission held a press conference today to clear up doubts. Gao Jingping, deputy director of the Securities and Futures Bureau, said that the stock exchange has a monitoring system for listed companies, and there is always supervision on serious news and large transactions; if transactions are discovered If there is an abnormality, the information will be handed over to the inspection unit and cooperate with the investigation.

Recently, directors of Evergreen Marine Corp. Zhang Guohua and Ke Liqing were accused of insider trading by shareholder Lin Wenpeng. Lawyer Lin Zhengjiang, another shareholder, also reported to the Securities and Futures Bureau. He believed that the facts of this insider trading case were not disclosed in the public information observatory, relevant information on the stock exchange website and Relevant reports can prove that “the competent authorities failed to detect serious criminal acts that violated the order of the securities market as early as possible despite clear objective evidence. The supervision mechanism obviously failed.”

Gao Jingping, deputy director of the Securities and Futures Bureau, said that Evergreen Shipping was accused of delaying the release of relevant important news. The case will be consolidated and reviewed, and everything will be handled in accordance with relevant regulations. A monitoring mechanism will also be implemented on the finance and business of listed companies. In addition to financial report review and internal control review, There are also exception management on weekdays; once there is an abnormal situation, in addition to handover for inspection and investigation, on-site inspection will be carried out. If the situation is serious, regulatory measures will be implemented.

Huang Shicong, a well-known financial expert, pointed out that insider trading is a felony, with illegal gains of more than 100 million yuan, and is usually sentenced to more than 10 years in prison. There will also be compulsory punishments such as detention, restriction on exit, and electronic shackle monitoring; if there are accomplices, you must even pay attention to collusion. Questions, such as whether Zhu Guorong paid a heavy bail in the insider trading case or absconded. The person involved in the Evergreen Line insider trading case has a considerable investment scale in the maritime and air industries and has huge assets overseas. If the prosecutors do not take necessary mandatory sanctions against the defendant as soon as possible, how will they explain to the Chinese people if the person involved leaves the country?

As for Zhang Guohua’s statement, he claimed that he purchased stocks based on his enthusiasm for the shipping industry and did not sell or make a profit. He denied insider trading. Lawyer Zheng Haoxuan refuted that according to the Supreme Court’s judgment, the crime of insider trading was established, regardless of “enthusiasm” or whether there was profit or not, as long as Zhang Guohua knew the news that could affect Evergreen Marine’s stock price, he could not buy or sell Evergreen Marine shares before the news was made public.

Lawyer Lin Zhengjiang emphasized that the Financial Supervisory Commission, the Securities and Futures Bureau, the stock exchange and the Insurance Center, as the guardians of Taiwan’s investment and market competition order, have a supervision mechanism for listed over-the-counter companies; they failed to discover as early as possible that Zhang Guohua and Ke Liqing were involved in securities exchange violations. Legal insider trading is a major violation of the order of the securities market. We hope that the competent authorities will make amends and provide relevant transaction information to the judicial authorities as soon as possible to clarify the truth.

Original source: Evergreen Marine Zhang Guohua was charged with insider trading and the Financial Supervisory Committee spoke out

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