How A Ride-Hailing Driver Comes To Dominate The World? [EN]: Chapter 258

The Inside Story of the Jiang Family, 30 Billion Gold Fraud

Yang Chen personally called late at night to explain things, so it must be very urgent.

Qiu Yuhong also quickly ordered people to collect information about the Jinling Jiang family overnight.

Around 11 PM, Qiu Yuhong prepared a summary of the information and sent it to Yang Chen.

The Jiang family’s main investment industries are as follows:

Listed companies:

Jinling Mining, with a 52% shareholding, worth approximately 8 billion.

Zijin Mining, with a % shareholding, worth approximately billion.

Jinling Nonferrous, with a % shareholding, worth approximately 2 billion.

Su Province Bank, with a % shareholding, worth approximately 1.8 billion.

Unlisted companies:

Jinling Urban Construction, with a % shareholding, the major shareholder is Jinling State-owned Assets Supervision and Administration Commission [SASAC, a government agency overseeing state-owned enterprises], valued at approximately 800 million.

Jinling Development, with a % shareholding, the major shareholder is Jinling State-owned Assets Supervision and Administration Commission, valued at approximately 600 million.

Jinling Phoenix Gold Jewelry Co., Ltd., with a 90% shareholding, valued at approximately 3 billion. The remaining 10% equity is divided among 15 other companies and natural persons.

Jinling Tanbao Group, 100% shareholding, valued at approximately 2 billion.

Jinling Jiang’s Investment Holding Group, 100% holding, which is also the main company used by the Jiang family for foreign investment.

There are about 50 other investment industries of various sizes, but the scale is not large, and the total value is estimated to be about 500 million.

However, one issue caught Yang Chen’s attention: Jinling Phoenix Gold Jewelry has as much as 30 billion in mortgage loans, and the collateral provided by the company to banks and other financial institutions is 999 pure gold bullion [24K gold].

According to the market price of gold, so many mortgage loans require about 85 tons of gold.

China’s total gold reserves are more than 1,900 tons, with annual consumption maintained at about 1,000 tons, and annual production maintained at about 300 tons.

How can a little-known private company, Jinling Phoenix Gold Jewelry, take out as much as 85 tons of gold to mortgage loans to banks? Is this a bit abnormal?

Compared with China’s gold reserves, consumption, and production, 85 tons of gold is undoubtedly an astronomical figure for a private gold shop.

Let’s put it this way: if Jinling Phoenix Gold Jewelry can take out 85 tons of gold for mortgage, based on their sales scale, turnover, net profit, and other factors, then well-known brands such as China Gold, Lao Miao Gold, and Lao Fengxiang Gold could easily take out 300 tons of gold to mortgage with banks. Isn’t this obviously a problem?

Yang Chen continued to look down.

The Jiang’s Holding Group has recently launched a fierce attack on two listed companies: Changhua Development and Jiuhuan Group.

Currently, both companies are in a state of reorganization, and it seems that the Jiang family wants to control these two companies through this reorganization opportunity.

However, to strategically invest in listed companies, there must be sufficient funds.

To control these two companies, the Jiang family needs to prepare approximately 27 billion in funds.

Jinling Phoenix Gold Jewelry used 85 tons of gold to mortgage 30 billion from banks and other financial institutions, and the Jiang family holds 90% of the company’s equity, which means they can get about 27 billion in funds, which just meets the funding needs for controlling Changhua Development and Jiuhuan Group?

Yang Chen smiled slightly, already guessing the Jiang family’s plan.

As long as the Jiang family controls Changhua Development and Jiuhuan Group, they can misappropriate the assets of these two listed companies to redeem the 85 tons of gold from banks and other financial institutions.

In this way, they are equivalent to not spending a penny and controlling two listed companies for nothing.

If the China Securities Regulatory Commission (CSRC) [the main securities regulator of China] discovers that they have misappropriated the assets of these two listed companies, the general punishment is a fine of 600,000, a notice of criticism, and an order for them to return the misappropriated assets of the listed companies.

Because the CSRC’s punishment in this regard is not painful or itchy, many controlling shareholders of listed companies are not afraid of being punished at all. They misappropriate when they should and fabricate when they should.

If the CSRC does not discover it, then they can continue to use it like this. After the dividends are earned in the future, they can redeem a little bit every year, and one day they will be able to compensate for the assets of these two companies, thereby realizing their plan of getting something for nothing, and it is still two birds with one stone. This method is really clever.

From these analyses, it can be seen that the Jiang family’s purpose of mortgaging the 85 tons of gold is not to cheat money, but to control the two listed companies.

After controlling the two listed companies, they will redeem the 85 tons of gold.

This raises a very important question: has the 85 tons of gold been given to the bank, or is the 85 tons of gold real or fake? It doesn’t matter, as long as they can redeem it on time and pay the interest that the bank should get.

However, judging from their mortgage of 85 tons of gold, they should have used fake gold for banks and other financial institutions; otherwise, those institutions would not be foolish enough to give them money.

As long as the 85 tons of fake gold are exposed, the Jiang family will have committed a major crime.

A 30 billion fraud case is enough for many people in the Jiang family to go to prison.

However, Yang Chen now needs to know what the redemption conditions agreed between the Jiang family and the bank are.

If the two parties agree to use 30 billion as the standard, as long as the Jiang family returns the 30 billion funds and interest, the 85 tons of gold will be returned to them, then there is no room for manipulation.

If the two parties agree to use the real-time gold price as the standard, and the Jiang family needs to repay the money for 85 tons of gold according to the current gold price, then Yang Chen has room for manipulation.

As long as he finds a way to make the gold price rise sharply, the 30 billion funds mortgaged by the Jiang family will not be able to buy 85 tons of gold, then they will have to pay for it themselves.

This also means that the higher the gold price rises, the more money the Jiang family needs to pay.

Here is an example.

The average price of Jinling Phoenix Gold Jewelry mortgaging 85 tons of gold in exchange for 30 billion funds is 353 yuan/gram, and the current gold price is 365 yuan/gram.

If it is the second redemption condition, then the company has already lost 10 yuan per gram.

Yang Chen quickly called Qiu Yuhong, ordering him to check the mortgage contract between Jinling Phoenix Gold Jewelry and the bank to see how the two parties agreed on the redemption conditions, whether it is based on 30 billion or based on the current gold price.

Qiu Yuhong quickly ordered the Aegis Security Group, Jinling Branch to investigate.

Because this requires bribing bank insiders to see the contract, there was no reply until 2 AM.

Qiu Yuhong sent Yang Chen some photos, all of which were Jinling Phoenix Gold Jewelry and multiple bank and financial institution mortgage loan contracts.

The agreed redemption condition is to redeem the 85 tons of gold according to the real-time gold price standard.

Yang Chen was overjoyed, which also means that the higher the gold price rises, the more money the Jiang family needs to pay.

Previously, the gold price was 355 yuan/gram, and to redeem 85 tons of gold, only 30 billion funds were needed to be given to the bank.

If the gold price now rises to 500 yuan/gram, to redeem 85 tons of gold, the Jiang family needs to pay 42.5 billion funds to the bank.

A comparison shows the huge impact of rising gold prices on the Jiang family.

However, as a global hard currency, the rise and fall of gold prices cannot be determined by one or two people. In addition to the big shots on Wall Street, only the governments of countries such as the United States can control gold prices through some policies.

It is obviously impossible to ask the governments of various countries to control gold prices, and it is obviously unrealistic to ask the Wall Street giants to unanimously be bullish on gold prices. Yang Chen does not have the ability to tell them what to do.

Therefore, now there is only one way left: to cause accidents in the world’s major gold mines, leading to a global shortage of gold production, a reduction in the supply of gold in the international market, and prices will naturally go up.

It takes some time for the gold mine to return to normal production, and Yang Chen can use this gap to take down the Jiang family.

Act if you want to, Yang Chen immediately sent an order to Qiu Yuhong.

Yang Chen repeatedly emphasized that the main purpose of this operation was to delay gold mine production.

After Qiu Yuhong understood Yang Chen’s true meaning, he immediately contacted and started preparing.

There is strength in numbers; as long as it is not too excessive, you can do whatever you want, and manipulating gold prices is not a difficult task.

Yang Chen has made all the preparations and is waiting for Jiang Anbang to take action.

In order to create an opportunity for Jiang Anbang to take action, Yang Chen even deliberately delayed for two days.

When Wang Anshuang arrived in Jinling City, Yang Chen contacted the two young masters of the Ning family to go to Cuishi Zhai, the third-ranked rough stone market in Jinling City, in the evening.

When Ning Shaolong received the news, he felt that tonight was the best time to take action.

Once Yang Chen returns to Haicheng tomorrow, it will be difficult to take action again.

Ning Shaolong quickly sent a message to Jiang Anbang.

“We will go to Cuishi Zhai to play at 10 PM tonight. I will try to delay the time until midnight, and take them through the Liu Village demolition area. That area is all ruins, and there is no one within three miles. We will take action there.”

Jiang Anbang quickly replied.

“Okay! After tonight, you will be the only successor of the Ning family. Congratulations.”

Ning Shaolong was so happy that he almost jumped for joy and quickly replied: “Thank you. I will remember Young Master Jiang’s kindness, and I will definitely not give you less of the benefits I promised. In the future, our two families can cooperate more and make money together.”

Jiang Anbang replied: “Haha… no problem! When we both become heads of the family in the future, we can let the two families cooperate more and make big money together.”

The two young masters are now starting to imagine the good days ahead.

At 10 PM, Yang Chen and the others arrived at Cuishi Zhai.

As the third largest rough stone market in Jinling City, the business here was originally not comparable to Tanbao Pavilion and Emerald Exchange, but because Tanbao Pavilion’s reputation stinks, some of the regulars there have transferred to Cuishi Zhai, so the business here has also improved.

As a result, the already not-so-spacious venue now seems particularly crowded.

Cuishi Zhai does not have any big families behind it. It is controlled by Fukang Jewelry Co., Ltd., and Fukang Jewelry is a subsidiary of the listed company Fugui Gold.

In this way, people can be considered to have a strong enough background.

As soon as Yang Chen and the others arrived, the store manager Zheng Kangjun came out to drive people away.

Because there are more players, Zheng Kangjun did not blatantly drive them away, but said that Yang Chen and the others have a bad relationship with Tanbao Pavilion, and Cuishi Zhai is relatively weak and does not want to have any misunderstandings with Tanbao Pavilion and the Jiang family, so they are not welcome to play here.

Ning Shaolong was the most excited person. He had to hold Yang Chen and Ning Shaoqing back until 2 or 3 AM to pass through the demolition area.

If they are driven away by Zheng Kangjun now, how can they delay until that time?

Ning Shaolong immediately said: “Manager Zheng, what do you mean? Cuishi Zhai is open for business. It doesn’t allow people who can win to come, and only allows others to count money here, right?”

Ning Shaoqing: “If you are so ungrateful, then we won’t talk to you about any rules of the world. If you don’t let us play, then no one else can play. You don’t have to open Cuishi Zhai either. Just close it down.”

Zheng Kangjun: “Two young masters of the Ning family, why bother us with this small shop? I’m just watching a shop for others. What’s the point of embarrassing a working man like me?”

Ning Shaolong: “It’s not that we are embarrassing you, it’s that you are embarrassing us. We brought friends over to play, and you are directly driving people away. What kind of operation is this? You don’t leave us any face at all, and you still say we are embarrassing you?”

Ning Shaoqing: “Store manager Zheng, we won’t talk nonsense with you. Today, oh, no, it should be from now on, either Cuishi Zhai closes down, or we can play as much as we want in a proper manner. You choose one yourself.”

Zheng Kangjun: “It’s meaningless for you to do this. I’m going to call Mr. Huang here.”

Ning Shaoqing: “Damn, who are you scaring? Don’t say you called Huang Zhouyuan, even if you called Wang Shicheng, the chairman of Fugui Gold, I would still say the same thing. You can figure it out.”

At this time, other players also joined in the booing, and they all supported the two young masters of the Ning family.

“Store manager Zheng, you are open for business. As long as the guests can afford the money, you have no reason to drive them away.”

“That’s right! You drive people away because you see that they have a unique vision. It’s like you don’t allow others to win, and you can only keep losing money like us.”

“If you play like this, then we won’t come here in the future. I hate people who can’t afford to lose and still be the dealer. It’s embarrassing!”

…

Zheng Kangjun belongs to the kind of person who is not strong enough, unwilling to pay the price, and still wants to get things done. How can there be such a good thing?

If he was as sensible as Cheng Shengjun from Emerald Exchange and directly sent a check to beg for mercy, Yang Chen and the others would not be embarrassed to smash the place, right?

But this old boy actually came out to drive people away. Everyone who comes out to hang out wants a little face. You have already come out to drive people away, so why should I save face for you?

While Ning Shaolong and Ning Shaoqing were entangled with them, Yang Chen had already looked at all the stones and said loudly: “Everyone, don’t waste money, these stones are all empty. Damn, even capitalists are not as dark as them. They must screen every stone with instruments to make sure there is no jade before letting everyone play. Although gambling on stones is about luck, it’s no different from gambling money, but at least you have to give people a little hope, right? This is even worse than the lottery jackpot. Although the jackpot is difficult to win, at least they have a jackpot. They don’t even have a consolation prize. They are blatantly cheating money.”

The Jinling rough stone gambling circle already knows how powerful Yang Chen is at Tanbao Pavilion.

If he says that the stones in Cuishi Zhai are all empty, then it will definitely not be fake.

“Damn, Zheng Kangjun, you are too ruthless. Lotteries still have a chance of winning the jackpot, but you have directly deprived all the possibilities of winning. You are blatantly cheating our money.”

“It’s not shameful to make money, what’s shameful is that you have no bottom line at all. At least leave us one with jade, you can actually do this!”

“Give me back my money! I have lost no less than 50 million here. Give me back my money immediately, otherwise I will bring people over to smash this place tomorrow. Don’t think you can be arrogant just because you have a listed company behind you. I’m not afraid of them! Damn!”

“Brothers, what are you talking about with him! Tomorrow, bring people over and smash this place together. I want to see if the listed company behind him dares to come forward. Do they still want to protect the stock price? Do they dare to come out to deal with us?”

…

Zheng Kangjun panicked and quickly said: “Everyone, don’t listen to his nonsense. How can he be sure that so many stones are empty? What is the basis?”

“He just swept through Tanbao Pavilion a few days ago, don’t you know?”

“I saw it with my own eyes. I switched from Tanbao Pavilion to play here. I 100% believe what he said about the remaining stones being empty!”

“It’s simple. If it doesn’t work, you can cut open these stones in front of us like Tanbao Pavilion to prove your innocence.”

‘That’s right! Do you dare to cut open these stones?’

…

Zheng Kangjun: “That’s definitely not possible! The stones here are worth a total of 200 million. Who will bear the loss if I cut them all open?”

“If they are all empty, you will bear the loss yourself. If there is jade, we will pool money to compensate you. Brothers, do you dare to play this big game?”

“Haha… I dare! I have personally witnessed Brother Chen’s performance at Tanbao Pavilion, how can I not dare?”

“Let’s experience the feeling of sweeping through the place today! Zheng Kangjun, come on, cut it open and show us.”

…

Zheng Kangjun knows whether there is anything in these stones.

He definitely doesn’t dare to cut them open; once he cuts them open, he will be exposed.

But if he doesn’t cut them open, everyone will definitely think that he is guilty and doesn’t dare to cut them open, and they will also think that these stones are empty stones that have been screened by instruments.

Now the situation is really difficult, and Zheng Kangjun doesn’t know what to do.

He definitely can’t cut them open; once he cuts them open, there is really no way to explain it.

Now he can only pretend to be stupid and not admit it, and not cut them open.

“If you are willing to play, then spend money to buy these stones and cut them open to see the results. We are only responsible for providing the venue and rough stones, and we will not participate in rough stone gambling. Therefore, I am sorry that I cannot meet your requirements. Today, our Cuishi Zhai will conduct a temporary fire drill and will only be open until here. Please forgive me, all distinguished guests, please go back. Come on, see the guests off!” Zheng Kangjun said with a straight face and then left the scene directly, handing over the task of driving away the guests to the people watching the place.

Now they have aroused public anger, and they still want to use the method of driving people away to send the guests away. Isn’t that a joke?

“I’m not leaving today; I want to see what you can do to me?”

“Come on, try to touch me, and see if I dare to bring people over to smash your place tomorrow.”

“You want to get away with cheating people after being exposed? Dream on!”

…

Some of these players are also people with status and face, and the forces behind them are quite complicated. They are not afraid of the listed company Fugui Gold, so they dare to compete with Cuishi Zhai to the end.

Seeing that the matter could not be resolved, Zheng Kangjun had to call Huang Zhouyuan, the general manager of Fukang Jewelry, for help.

Huang Zhouyuan quickly called Wang Shicheng, the chairman of Fugui Gold, to report the situation and ask how to deal with the Ning family and those old customers.

The headquarters of Fugui Gold is in Haicheng, and Wang Shicheng himself lives in Haicheng. He definitely cannot come over in person, so he can only tell Huang Zhouyuan to resolve the problem peacefully as much as possible.

If necessary, you can compensate some money, as long as you can solve the problem.

Huang Zhouyuan quickly asked: “Then how much should I compensate?”

Wang Shicheng: “Return 30% of the total consumption of old customers in the past year. You can compensate the two second-generation ancestors of the Ning family as you see fit, but no more than 10 million. As for Yang Chen, this kid is very fierce. He directly wiped out the rough stone gambling circle in Haicheng. Compensate him according to the standard of 20 million. But there is one condition: he must change his words and tell everyone that there is jade in our stones. Do you understand what I mean?”

Huang Zhouyuan: “Understood!”

Hanging up the phone, Huang Zhouyuan immediately rushed to Cuishi Zhai.

When he arrived, the place was already in chaos.

Huang Zhouyuan quickly stepped forward to apologize to everyone and promised to compensate different customers to different degrees according to Wang Shicheng’s instructions.

Everyone else accepted this compensation plan.

Then Huang Zhouyuan invited Yang Chen to a secluded place and said with a smile: “Mr. Yang, Chairman Wang, oh, also the chairman of Fugui Gold, Wang Shicheng, he specifically told me to give you 10 million, hoping that you can be merciful and help say that there is jade in stone number 168 and stone number 208. Is that okay?”

Yang Chen: “I don’t want your money, and I won’t help you lie.”

Huang Zhouyuan: “Mr. Yang, please help us. How about this, we will give you a 20 million thank you fee, as long as you help us say that there is jade in stones 168 and 208. Please.”

Yang Chen shook his head and said, “I don’t want your money, and I won’t help you lie. Okay, that’s it. Ning Shaoqing, Ning Shaolong, let’s go.”

Ning Shaoqing and Ning Shaolong quickly ran over, got in the car with Yang Chen, and left.

Huang Zhouyuan sighed and quickly called Wang Shicheng.

Huang Zhouyuan: “Chairman Wang, that Yang Chen is too stubborn. He would rather not take our money than help us say a word.”

Wang Shicheng: “What? He didn’t want money? Did anyone else want money?”

Huang Zhouyuan: “Everyone else wanted money, but he didn’t want money.”

Wang Shicheng: “You are stupid! The key is to get him to change his words and say that there is jade in our stones. What’s the point of us giving money if he is unwilling to cooperate?”

Huang Zhouyuan: “Ah? Then… what should I do? I have already signed the checks to them, I can’t ask for them back, right? And some people have already left, I can’t ask for them back.”

Wang Shicheng: “Hey… you can’t do anything right. You didn’t understand the point at all, and you told me you understood. Tomorrow morning, take all the money out of the account so they can’t exchange it. At worst, we will compensate a little money, but we can’t really let them take the money away.”

Huang Zhouyuan: “Okay, I understand… I understand.”

It’s only a little past one o’clock now, and there is still some time before the 2 AM that Ning Shaolong agreed with Jiang Anbang. No matter what, we have to delay until the agreed time.

Ning Shaolong quickly said to Ning Shaoqing: “Old brother, I think we can discuss with Yang Chen and cooperate to build a rough stone market that belongs to us. Tanbao Pavilion and Cuishi Zhai are already useless. Only Emerald Exchange without a backer is our opponent. But our strength is much stronger than him, and we will be able to swallow Emerald Exchange’s business sooner or later. What do you think?”

Ning Shaoqing nodded and replied with a smile: “That makes sense! Now there is only one Emerald Exchange with some strength in the Jinling rough stone gambling circle. This is our opportunity. Turn on the lights and signal Brother Chen to stop the car. Let’s talk to him. He is leaving tomorrow, so let’s take advantage of tonight’s opportunity to talk to him in person.”

Ning Shaolong nodded with a smile, feeling very happy. He quickly turned on the hazard lights and pulled over to the side of the road. Then Yang Chen also pulled over to the side of the road.

Yang Chen looked at the navigation. This place is only one kilometer away from Jiang Anbang’s location. What is Ning Shaolong’s intention to stop suddenly? Could it be that Ning Shaolong and Jiang Anbang are colluding?

Yang Chen’s eyes lit up and he said to Cheng Junjun: “Don’t go out of the car. If you need to use the restroom, do it in the car. Without my order, you are not allowed to open the car door or window. Do you understand?”

Cheng Junjun, who was already sleepy, suddenly became energetic and asked: “What’s going on?”

Yang Chen: “It’s hard to say, just listen to me.” After saying that, Yang Chen got out of the car with his phone.

The Ning brothers walked over.

Yang Chen: “What’s going on?”

Ning Shaoqing: “Brother Chen, aren’t you going back to Haicheng tomorrow? We have something to tell you. Look, there is only one Emerald Exchange left in the rough stone market in Jinling. Why don’t we take the opportunity to do something?”

Ning Shaolong: “That’s right! Now is a good opportunity for us to overtake on a curve and replace Tanbao Pavilion as the largest rough stone market in Jinling City. With your name as a guarantee, Brother Chen, our rough stone market will definitely gain the trust of the players.”

Yang Chen: “Well, I also think it’s worth doing. I have already asked someone to start building a rough stone market that belongs to me in Haicheng. We can also try to do something in Jinling.”

…

The three began to discuss in detail how to cooperate, how to invest, how to allocate equity, how to operate, and so on.

After an hour of discussion, it was over.

Ning Shaolong saw that it was past 2 AM and it was time to take action.

“It’s getting late, let’s discuss it here today. We will go to Haicheng to discuss the details with Brother Chen another day and sign the contract. Now we won’t delay Brother Chen and Miss Cheng from going back to rest,” Ning Shaolong said.

The time had just passed 2 AM, and Ning Shaolong couldn’t wait to leave.

Yang Chen immediately determined that Ning Shaolong and Jiang Anbang had joined forces to kill him and Ning Shaoqing.

Yang Chen replied with a smile: “Okay! Then let’s talk about it another day when we have time.”

Ning Shaolong: “Let’s go, I’ll take Brother Chen on a shortcut back to the hotel.”

The three immediately got in the car.

Ning Shaolong drove in front to lead the way. After turning at the intersection ahead, his direction was exactly to the demolition area.

A smile appeared on the corner of Yang Chen’s mouth. He was going to buy one get one free tonight, which was a bargain for that kid Ning Shaoqing, helping him solve a hidden danger.