Tungsten bar is blown billions of dollars worth tungsten gold

Worth less than 200,000 of the metal tungsten, as amended, his mouth a blow, it becomes a value of more than one million "tungsten." Last November, the case in Changsha Intermediate People's Court hearing, SanXiang had exclusive were reported. At that time, Wang Guoding argued in court that the money was not a loan fraud. Results, Changsha Intermediate People's Court verdict: Wang Guoding guilty of contract fraud and sentenced to fifteen years. Wang Guoding refused to accept the appeal.

The first step: loophole loans stumped party secretary

This home is located in the North of universities, in 2003 for the establishment, in this year, the city has served as a mayor and city departments directly under the main person in charge of Li Dagang (a pseudonym) was promoted to party secretary of the school.

When he was general manager of Hunan Yufeng Property Development Co., Ltd. of Wang Guoding introduced, and Li Dagang understanding. King of the offerings, by him to operate, to fight for $ 30 million of the university's certificates of deposit, so that schools can apply for loans to banks.

School gave him $ 50,000 upfront financing costs. Wang took 50,000 yuan, and did not melt into the capital, but could not find a suitable investor.

Step Two: The next cap tungsten blown billions of dollars, "tungsten"

University there, did not get the so-called 30 million yuan deposit, Li Dagang recite. At this time, Wang Guoding dished out his second "trick." Wang Li said that now very valuable tungsten, tungsten I can provide to security companies, security companies and then come back to your school out for bank loans.

Wang did you get 80 kg tungsten, tungsten gold falsely, to the Dagang's school. And made this pledge, the school pays its upfront financing costs 700,000 yuan.

Since then, Wang 340 yuan per kilogram price, buy a 505.14 kg tungsten. Tungsten buy, the king requires purchase of the packaging will identify all tungsten tear, and then Li Dagang, this is China Ordins sold the company in Hunan, Hebei Yufeng tungsten gold.

In this way, he just over 170,000 worth of tungsten, whitewash became worth a billion tungsten and successfully deceived again from the school in the hands of two million yuan. These fake tungsten gold has not escaped the eyes of banks, billion loan fell through, the school a total of 2.75 million yuan of financing charges boondoggle.

Auditing the person in charge of university outgoing audit, we found that there is a school where Li Dagang 2.75 million of funds unaccounted for. Li Dagang was removed from the post of party secretary.

The third step: transfer of property stolen money to buy a car lover

Wang Guoding fled to continue to defraud, was arrested in Nanning.

However, according to the police investigation, Wang obtained the money, in addition to buy tungsten spent more than 20 million, the other have been squandered.

The proceeds of purposes, including Wang Guoding used to give car buyers in Shenzhen Valentine's fees, and his daughter-in-law to buy household items. After the incident, the police recovered only a small amount of cash and cars.

Verdict: guilty of contract fraud and sentenced to 15 years

Hearing, Wang Guoding did not ask counsel, his eloquent. "I'm in a wrong time to do a wrong thing." And he no crime, no fraud, just borrowing.

But the court did not accept his views on this defense. Changsha Intermediate People's Court of First Instance that: Wang Guoding illegal possession for the purpose, with the company seal Sike signed a financial cooperation agreement with others, and to conceal the truth, the value of the low value of the precious metal tungsten posing the "tungsten" to perform the contract, In the name of defrauding others upfront financing costs 2.75 million yuan, his behavior constituted contract fraud, and a huge amount.

Court of First Instance sentenced him to 15 years imprisonment and fined 200,000 and continues to recover stolen money.