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Gu Chujun, 53, held a press conference on September 14, in which this man who was once ranked at No. 83 in the 2005 Hurun Rich List, said to over 100 journalists that he was framed.
This was the first time that the founder of Greencole Group and board chairman of Colong Appliance showed in front of the public after being released from the prison on September 6.
In the press conference, Gu Chujun disclosed that he was put into the prison because he was framed by four senior government officials. According to him, the four officials include Zheng Shaodaong, former assistant to the Minister of Public Security (now sentenced to death with reprieve), Liu Xingqiang, general manager of the Dalian Commodities Exchanges, and Fan Fuchun, former president of the China Securities Regulatory Commission. It is worthwhile to mention that Liu Xingqiang was once the director of the Guangdong Securities Regulatory Bureau of the China Securities Regulatory Commission.
According to the public data, Gu Chujun, who was formerly a technician, was good at playing capital game. He founded Greencole Group in Canada in 1992 and returned to China in 1995. In 2000, Greencole went public in the Hongkong Starting Board. From 2001, Gu Chujun began to build the famed “Greencole system” through big investments. In October 2001, Gu Chujun spent 660 million yuan acquiring Guangdong Colong Home Appliance Co., Ltd and took the company’s board chairman. In March 2003, he acquired another refrigerator giant Meiling Appliance. In December 2003, he moved into the car manufacturing business.
At the end of 2004, the Shenzhen Stock Exchanges and the Hong Kong Exchanges and Clearing Ltd began to investigate the headquarters of Colong and its financial problem. In July 2005, Gu Chujun and several senior executives of Colong were arrested in Guangdong. In April 2009, the court in Guangdong sentenced Gu Chujun into a 10-year imprisonment in the name of false capital registration, illegal disclosure or hiding of important information and embezzlement.
This was the first time that the founder of Greencole Group and board chairman of Colong Appliance showed in front of the public after being released from the prison on September 6.
In the press conference, Gu Chujun disclosed that he was put into the prison because he was framed by four senior government officials. According to him, the four officials include Zheng Shaodaong, former assistant to the Minister of Public Security (now sentenced to death with reprieve), Liu Xingqiang, general manager of the Dalian Commodities Exchanges, and Fan Fuchun, former president of the China Securities Regulatory Commission. It is worthwhile to mention that Liu Xingqiang was once the director of the Guangdong Securities Regulatory Bureau of the China Securities Regulatory Commission.
According to the public data, Gu Chujun, who was formerly a technician, was good at playing capital game. He founded Greencole Group in Canada in 1992 and returned to China in 1995. In 2000, Greencole went public in the Hongkong Starting Board. From 2001, Gu Chujun began to build the famed “Greencole system” through big investments. In October 2001, Gu Chujun spent 660 million yuan acquiring Guangdong Colong Home Appliance Co., Ltd and took the company’s board chairman. In March 2003, he acquired another refrigerator giant Meiling Appliance. In December 2003, he moved into the car manufacturing business.
At the end of 2004, the Shenzhen Stock Exchanges and the Hong Kong Exchanges and Clearing Ltd began to investigate the headquarters of Colong and its financial problem. In July 2005, Gu Chujun and several senior executives of Colong were arrested in Guangdong. In April 2009, the court in Guangdong sentenced Gu Chujun into a 10-year imprisonment in the name of false capital registration, illegal disclosure or hiding of important information and embezzlement.