Source: China Radio and Television Station Voice of China
18 On the evening of 18, the fourth episode of the five-episode TV special " Zero Tolerance " "System Treatment" was broadcast on CCTV CCTV Comprehensive Channel. The film exposed the financial corruption case of Sun Deshun, former deputy secretary of the Party Committee and president of CITIC Bank Co., Ltd., and a large number of details were exposed.
Increase real estate loans and seek personal gains
In March 2020, the Central Commission for Discipline Inspection and the National Supervisory Commission announced that Sun Deshun is a typical example of a particularly serious corruption problem in the financial field, a particularly bad nature and a particularly huge amount. He was expelled from the Party and the suspected criminal issues were transferred to the procuratorate for review and prosecution in accordance with the law.
In recent years, the central government has repeatedly emphasized that finance should return to its original source of serving the real economy, increase support for manufacturing, and prevent excessive concentration of credit funds into real estate, but Sun Deshun went against the trend.
Staff of the Central Commission for Discipline Inspection and the National Supervisory Commission Fan Xiangpeng : He focuses on what makes money quickly and takes effect quickly. he tends to lend to real estate. When presided over the president's office meeting, he made a public and straightforward request that the whole bank must immediately stop the manufacturing loan, even if there is 100% mortgage, it will not work.
CITIC Bank The problem of excessive loans to the real estate industry's real estate industry's long-term risks gradually emerged. In February 2020, China Banking and Insurance Regulatory Commission issued a huge administrative penalty of RMB 22 million to CITIC Bank, and 13 of the 19 punishments involved real estate business.
In addition to pursuing political achievements, there is another reason why Sun Deshun increased his real estate loans, which is to seek personal gain. The investigation found that some real estate company bosses had close ties with him and had exchanges of interests. For example, a real estate company boss once sent 10 million yuan to a company actually controlled by Sun Deshun in the name of investment, and the return received was that Sun Deshun's approval of loan credit was more than 4 billion yuan.
believes that cash collection is too low-end
set up three layers " shadow company " to cover up power and money transactions
Sun Deshun has worked in the banking industry for more than 40 years and is the only cadre in the Chinese financial industry who started from the grassroots counter cashier at the bank branch and gradually grew into the president of the head office of the state-owned bank. He believes that he has excellent business capabilities and tries to cover up power and money transactions through careful design.
Central Commission for Discipline Inspection and the National Supervisory Commission Fan Xiangpeng: One of his characteristics is that he does not collect cash. He believes that collecting cash is too low-end and too simple and crude. His way of fulfilling his interests is very professional, and he has been covered up layer by layer, using unique financial means and products.
survey found that Sun Deshun is a typical example of using "shadow company" and using financial means to complete the transfer of interests, and its specialization and complexity are quite rare. He arranged two old subordinates as agents to open two investment platform companies. The agents of the two companies are actually just "shadows" endorsed by Sun Deshun.
Sun Deshun’s platform company head, Wen Nuan : I am a voice actor at the front desk, there is only one person behind me, that is Sun Deshun. The salary of our main managers and the company's core business decisions are decided by him, and the corresponding share is allocated.
On the one hand, Sun Deshun used public power to approve loans for business owners at CITIC Bank; correspondingly, some of these bosses inject huge amounts of money into the platform companies he actually controls in the name of investment, while others gave high-quality investment projects or investment opportunities; platform companies used the funds provided by these bosses to invest in projects provided by the bosses, make money with money, and share profits with the bosses to form a community of interests.
Sun Deshun designed numerous bunkers with extremely complex structures. The two platform companies are his core management teams, which are the first layer of "shadow" that covers him; under the platform company, more than ten project companies have been established as the second layer of "shadow" . The project company and the bribery company are not directly transactions, but both parties have established shell companies as the third layer of "shadow" , and multi-layer shadow companies are nested layer by layer.
The transaction subject itself is full of phantoms, and the capital transactions are disguised as various seemingly legal financial products , equity investment agreements, using "shadow transactions" to cast a layer of fog for the transfer of interests.
Directly connect with the company
Use credit approval authority to seek personal gain
0 At the end of 2014, an energy company applied for a loan from CITIC Bank. Since the energy company has already experienced a debt crisis, it is a high-debt enterprise and generally does not issue loans. However, with the intervention of Sun Deshun, the 4 billion yuan loan was distributed to the company, and the non-performing assets were quickly formed. In order to express his gratitude to Sun Deshun, the actual controller of the company signed a capital increase agreement with the platform company controlled by Sun Deshun. allowed the company controlled by Sun Deshun to actually make 100 million yuan.
There are many other power and money transactions like this. There are many packaging methods for enterprises to transfer benefits to Sun Deshun, but the things they exchanged for are the same, that is, bank loans.
Sun Deshun : In the process of interacting with some entrepreneurs, I always think about seeking some benefits for myself or my own stakeholders.
Sun Deshun case highlights the importance of controlling the key power of credit approval. Bank loan approval is generally submitted by loan customers and submitted for approval step by step according to the procedures. However, Sun Deshun often directly connects with the company and then arranges it for subordinates to do it, and uses the inverted method of operating in violation of regulations.
According to the system design of CITIC Bank, the president only has one veto power for credit approval and has no approval authority; the approval must be approved by a collective vote of the credit approval meeting, and the main leader must speak at the last place. But in fact, Sun Deshun often ignored these systems and directly interfered in credit approval. The bank's internal control mechanism lost its effect in the face of the power of the top leader.
Sun Deshun : Judging from the laws he violated, he is still greedy and he is particularly regretful. No matter how much he regrets, there is no medicine for regret.
Must put power in the cage of the system
Sun Deshun case also reflects that the reasons for the lack of supervision in the financial field include both the problem of incomplete internal regulatory system and the problem of inadequate industry supervision. On the one hand, there is a problem of loose and soft performance of duties. On the other hand, some systems and regulations in the financial field urgently need to be improved, and there are lack of regulatory systems in some cross-sectional and innovative fields, which has led to the emergence of some financial risks and financial chaos.
The essence of corruption is the abuse of power. Power must be put into the cage of the system, and power must be set, regulated, restricted, and supervised in accordance with discipline and law.
