On the morning of September 1, the Intermediate People’s Court of Huizhou City, Guangdong Province held a public hearing on the case of the defendant Wu Changjiang suspected of misappropriating funds and job embezzlement, and the defendant Chen Yan suspected of misappropriating funds. As of press time, the case is still under trial, and the trial is expected to take two days to complete.
Wu Changjiang is the former legal representative and chairman of NVC Lighting (China) Co., Ltd.; Chen Yan is the former assistant to the chairman of NVC Lighting (China) Co., Ltd.
Accused of misappropriating more than 900 million yuan of funds
According to the indictment, NVC Lighting (China) Co., Ltd. (formerly Chongqing NVC Industrial Co., Ltd.) was approved by the Chongqing Administration for Industry and Commerce on November 7, 2011. Limited liability company (wholly owned by Taiwan, Hong Kong and Macao legal persons, hereinafter referred to as NVC China Company), is 100% controlled by Hong Kong NVC Lighting Co., Ltd. (hereinafter referred to as Hong Kong NVC Company). Hong Kong NVC Company is 100% controlled by Worldcom Investment Co., Ltd. (hereinafter referred to as Worldcom Investment Company), which in turn is 100% controlled by NVC Lighting Holdings Co., Ltd. (hereinafter referred to as NVC Holdings Company).
The indictment alleges that from 2012 to August 2014, NVC Holdings Company hired the defendant Wu Changjiang as the president of NVC Holdings Company, and also hired Wu Changjiang as the chairman of Worldcom Investment Company, the chairman of Hong Kong NVC Company, and the chairman of NVC China Company. During this period, Wu Changjiang took advantage of his position and without the authorization of NVC Holdings and the resolution of the board of directors of NVC China, he personally decided to convert NVC China's working capital deposits in three banks into deposits. Together with his ex-wife Wu (handled in a separate case), he arranged for the defendants Chen Yan and Sun (handled in a separate case), who were assistants to the chairman of NVC China at the time, to bring the official seal of NVC China to the above three banks to handle the procedures related to the pledge guarantee loan; at the same time, Wu Changjiang Through his actual control, Chongqing Wuji Real Estate Development Co., Ltd., Chongqing Lei Lijie Industrial Development Co., Ltd., Chongqing Huabiao Lamp Manufacturing Co., Ltd., Chongqing Enweixi Industrial Development Co., Ltd., and Chongqing Jiangte Surface Treatment Co., Ltd. used these companies as loan entities, and used NVC China's deposit as guarantee. Sun forged contracts for the purchase and sale of goods, and without actual transactions, applied for a working capital loan of RMB 901.62 million from the above three banks.
Defendant Chen Yan, even though he knew that the guaranteed loans provided by NVC China were loans for companies actually controlled by Wu Changjiang, he still violated the company's official seal management regulations and actively assisted Wu Changjiang and others to handle the relevant procedures for the pledged guaranteed loans for the above five companies. For this purpose, NVC China Company has successively pledged a total amount of RMB 923.88 million in deposits, and the loan items were used by the defendant Wu Changjiang for the construction of the "NVC Building" project of Chongqing Wuji Real Estate Development Co., Ltd.
Later, because the defendant Wu Changjiang was unable to repay the above-mentioned loan, the above-mentioned three banks forcibly deducted the RMB 556.5023 million deposit of NVC China Company, causing NVC China Company to suffer huge losses.
During 2014, the defendant Wu Changjiang took advantage of his position as the legal representative of Chongqing NVC Lighting Co., Ltd. (hereinafter referred to as Chongqing NVC), and through Zhang Mouyu, general manager of Chongqing NVC (handled in a separate case), asked the financial cashier Huang Moujun (handled in a separate case) and others to transfer a small part of the scrap money to the company's financial department when handling Chongqing NVC's waste, and the remaining scrap money was not transferred to the company's financial department for his own use. From February to August 2014, Huang Moujun and others sold Chongqing NVC's waste materials and collected a scrap payment of RMB 6,232,928.75. Huang Moujun transferred 656,102.91 yuan of it to the company's financial department for accounting. The remaining scrap money was not transferred to the company's financial department for accounting. The relevant original financial vouchers were also destroyed by Huang Moujun and others. Later, Huang Moujun was instructed by Wu Changjiang to remit RMB 3 million of the scrap money that had not been transferred to the company's financial department into Wu Changjiang's personal account, and RMB 700,000 to Wu Changjiang's personal account for Wu Changjiang's personal use. Part of the 3.7 million yuan was used by Wu Changjiang to repay personal debts, and part was withheld by the Huizhou Intermediate People's Court to pay the debts determined by the effective civil judgment. After the case was solved, the above-mentioned RMB 3.7 million could not be recovered.
In 2011, Huizhou NVC Optoelectronics Technology Co., Ltd. (hereinafter referred to as Huizhou NVC Company) signed an annual professional engineering channel agency agreement with a Chongqing Lighting Engineering Co., Ltd. (hereinafter referred to as Chongqing Company). After signing the contract, Huizhou NVC Company delivered lighting products with a contract price of RMB 132,145,38.47 to the Chongqing Company as agreed. However, the Chongqing Company has not paid the payment to Huizhou NVC Company. In October 2013, the defendant Wu Changjiang took advantage of his position as chairman of NVC China to instruct Guo Moutao (handled in a separate case) to issue a "certificate" in the name of NVC China to Wu Moumou (handled in a separate case), the legal representative of the Chongqing company, allowing the Chongqing company to offset the payment owed to Huizhou NVC. The payment of RMB 00,000 was remitted to the account of Shandong NVC Lighting Development Co., Ltd. through the account of the Chongqing company. On the same day, it was remitted from the bank account of Shandong NVC Development Co., Ltd. to the account of Shenzhen Mouyun Import and Export Co., Ltd., and then from Shenzhen Mouyun Import and Export Co., Ltd. to the account of Shenzhen Moutai Investment Guarantee Co., Ltd. to repay the personal loan Wu Changjiang borrowed from Ye Moumou in 2012. After the case was solved, the above RMB 10 million could not be recovered.
ANNA