The media exposure in the registered capital for false declaration and false official documents of state organs , China’s Generation Investment Holding Group Chairman Yu Jinyong first to ” rumors ” general response , lawyers issued a statement then , the media denounced false , claims or on several media Raised 50 million yuan and the high individual claims .
The WestPacific OceanUniversity Doctor of Business Administration , Jun Tang , in his alumni living in ” academic portal , ” the whirlpool , he had a high profile public support , not material “to the total complement Tang shot “and get burned .
Since about 2000, came to Beijing from his home in Sichuan , after years of “success” in the history , use of media packaging and converting well-known “productivity ” , Yu Jinyong has been like a duck . But this time , the situation is already out of control , those who have numerous accolades and eventually became a “human flesh search ” handle .
” Yu Jinyong incident ” has exceeded our background, experience , donations, false titles , etc. , ” is no longer a moral dimension , he has been suspected of crimes . ” Lawsuits that China University of Political Science Associate Professor . July 23, 2010 , Lawsuits to citizenship report to the Beijing Public Security Bureau Haidian Branch , has not yet been public security departments for .
According to ” Financial “press in Beijing, Liangshan , Tianjin, Chongqing investigation , unless the first two scandals , in aHuang GuangyuAfter the dismissal , Yu Jinyong also involved in Tianjin , Chongqing and other places as a shell company to discuss major government projects , and eventually because of inability to digest and abortion, early last , huge investment by local government pays the bill .
In this process of expanding Huabing , unverified media reports, the quick success of the real estate business and local government eagerness to attract foreign investment are all its living environment .
By Yu Jinyong as a mirror , reflecting the confusion of the real estate industry side , the Road, ” master “is also much more than he was a man.
Mianyang old things
According to Yu Jinyong provided to the Liangshan Prefecture Commerce and Industry Bureau of resume : Born April 12, 1963 the Yu Jinyong , 15 years old , he entered military service in Wuhan ; jobs in 1982 in Mianyang City Public Security Bureau police officers to enter ; in 1990 , he was appointed Mianyang Municipal Grain Bureau Chief ; in 1993 in Mianyang City in Sichuan Province, the Land Development and Construction Corporation, general manager and party secretary ; in 1995 as real estate investment and development in Sichuan Yongjia Group chairman , president ; in 1999 , he served in Taiwan Kai Sheng Industry Group ( hereinafter referred to as Taiwan Kai Sheng ) , Assistant Chairman , President .
However, according to Mianyang City, a veteran staff introduced the Grain Bureau , Yu father worked in Mianyang County Grain Bureau for the retired cadre , Yu my early 80s in the last century into its work . Administrative Division before and after 1992 , he went to the Mianyang City Fucheng District Food Branch , but has been a common cadre .
On its ” Public Security Bureau police officers , ” experience , Mianyang City Public Security Bureau Department staff in retrieving all the database restore “financial “press , which did not find the name Yu Jinyong or Yu Jinyong .
The Grain Bureau , said older employees , working in the Grain Bureau , Yu Jinyong “word of mouth not so good, not really , like bragging , things are not practical . ” 90′s of last century after he left the food system , their colleagues will be no news .
Yu Jinyong leave Beijing Grain Bureau battles up north in front of this experience , no place to check . However, this experience has not brought him wealth . According to his claim , he clutched a sister in 2000 to 4,000 yuan to Beijing that night , ” slept in the dormitory ‘s main entrance , under the snow that night, Beijing , I will always remember this moment . ”
2000 or 2001 , came to Taiwan Kai Sheng Yu Jinyong wholly owned subsidiary of Beijing Millennium Electronics Ltd ( Beijing Millennium ) Employees in charge of sales executives positions . Millennium in Beijing before the colleagues, then the field of enterprise development needs in the LCD capital, ” big talk ” of Yu there to help companies find funding commitment .
But the money did not come with the Yu Jinyong ‘s office . The former colleague recalls, ” He is quick to apply for funding on the project , tens of thousands each time , but not the side of one of these projects . ” Later, the financial manager of the company stumbled a judicial appeal against sentence Yu materials, ” We realized that he had a lawsuit in the body in Sichuan . ”
Liangshan ” pot of gold ”
The end of 2001 , in Yu Jinyong ‘s suggestion, the owner of the establishment of the Taiwan Kai Sheng Kai love Beijing Investment Company Limited ( Beijing Kai love ) . Companies registered capital of 10 million yuan , the legal representative for the general manager of Beijing Millennium PENG new shares by PENG Ying new and two on behalf of the holders of financial , capital contribution of 700 million and 3 million yuan , Yu Jinyong as CEO.
But next month, after two stock transfer, which 10 million yuan of registered capital ownership structure becomes: Yu Jinyong 51% , Wang Ying , 30% , 19% HAINAN new , legal representatives into Yu Jinyong . Informed staff said , this is not normal to change , Yu Jinyong not actually invested , only “because the accounts and official seal are Yu Jinyong adheres . ”
Kay Love Beijing soon after the establishment , Yu left Beijing Millennium . 2004, Yu Jinyong has to ” Kai love ” love the name Kai Properties Limited was set up (the Kay Love home ) etc. companies . In addition, he established Liangshan County , Shandong Province , Shandong Liangshan Kai Properties Limited development branch love , love Liangshan Kai Technology Development Co., Ltd. .
Legal representatives of these companies and shareholders , in addition to Yu Jinyong , there are brother and brother- ZHAO Hongwei Yu Jinchuan so on, but the amount of tax , foreign investment , sales revenue is zero , only to Kansas to check the “investment” is funded 1 million yuan to buy the Garden of Hope is located in Fengtai District Liuliqiao Joanna Lin used a set of real estate office .
Most ” Kay Love Line ” companies did not participate in the annual inspection was revoked , the only remaining love Kai home (later renamed the Kay Love Capital Investment Co., Ltd. ) .
Business information, incorporated in 2003, Kai love home , less than a year , the registered capital of 500,000 yuan from the surge up to 124.94 million yuan , the additional 120 million yuan is located in Liangshan County House Village Xue Yang Yingzhen East , the south one Komeito 1,500 acres of land use rights value .
However, the right to use land ownership has been falsified .
The end of 2002 , Yu Jinyong to love the name Kai sent to Beijing Liangshan , negotiate with the local high-tech industrial park construction project . According to Yu Jinyong external tender announcement , the project claims to invest 10 billion yuan, including the construction of the Cyberport information , five-star multi-functionHotel, Shopping-Mall, golf course. But a local cadres said, ” The strange thing is , so strong, Yu Jinyong company who actually spent several months in town , room and board by the Administrative Committee . ”
As the investment has not put in place , the land did not complete the transfer . Liangshan County Land Bureau, Economic Development Zone Branch of Liangshan Cadastral Management Division Yan into this “financial ” journalists, this land was approved by the agricultural land into construction land , but has not been in place for their investment , and finally not to Yu Jin Forever .
Kay Love in the business information home from Beijing in Runhua accounting firm ‘s “property transfer special report ” shows that the right to use of the land has been Yu Jinyong all , the basis for the Liangshan Economic Development Zone ” Beam through the 2004 word opening word No. 002 , ” documents, and Liangshan Economic Development Zone, issued by the Land Management Branch , ” Leung Kwok- word with the 2004 Land Use Certificate No. 007 . ”
According to Yan certificate of receipt of the land into the production of books, the human rights of land use certificates Dingshu Ling , and Yu Jinyong , and Kay has nothing to do love home , ” he called the alleged forgery of land use certificates . ”
According to public reports, to verify the above accounting firm in 2003 and 2004 did not produce the ” transfer of property -specific reports . ” This means that Kai loves home for replenishment of the capital verification report also alleged fraud .
” Kay Love Network ” leather
2000, arrived in Beijing soon , Yu Jinyong enrolled in the University of the Western Pacific American Doctor of Business Administration (DBA) three classes . According to his classmates recalled that this project for two years , courses in the campus of Peking University , Peking University lecturers and teachers in the United States , students must submit a paper each month , fees and charges payable upon a total of more than ten million such .
Although the insider said , ” the English vocabulary is less than 50 , even the doctor would not spell “, but the Ph.D. two years of cultivation , still makes him a ” Chinese real estate sector is one of only three Ph.D. ” Frequent appearances in the name of the media , and publicly claiming to have the Tsinghua University, Peking University , People’s Congress , the Central University of Finance and other famous big part-time professor , Graduate School of Chinese Academy of MBA instructors, Peking University Economic Research Center director of public and other titles .
In 2004, Yujin Yong Kai love China launched network . Who participated in the creator said , the site content mostly plagiarism , and the arrears of wages , “Let us each a plate contract site , sales site to see a movie point card . ” The employee is only some one thousand four months wages, Huff, the Yu court.
In Yu Jinyong self- description in the media , the year his wealth ” backdoor listing has been exceeded due to China ‘s richest man, Huang Guangyu . ” This huge amount of wealth from the 2004 ” 8.31 “land before the deadline , by Kay love home to spend 5 billion yuan acquisition , holding 25 Real Estate Corporation , nearly 6 million square meters of land reserves ; then through Nevada in the United States Kai loves the world , established the United States Network Limited (KI WORLD NETWORK CORP) reverse takeover love Kai home , the land assets into Networks . By the end of 2005 , Kai love China and was the sponsor network was sold to NASDAQ .
However, according to Kay Love home business information on foreign investment in 2004 is zero . Nasdaq official website of the listed companies in the list , and no “KI WORLD NETWORK CORP” the company.
Nevada Secretary of State Ross Miller personal information official website , the company in January 11, 2004 Reno, registered in the state , the registered capital of 500 000U.S. dollar, chairman of the board , chairman of the board secretary, cashier are Yujin Yong , Yu claimed that the ” sold ” the first half of March 2005 , has been taken off .
” by name ” Wong Kwong Yu
As early as 2004 , the mainland ‘s richest man, Huang Guangyu , after a backdoor listing , Yu Jinyong finding a chance to meet with . During the self-proclaimed ” experience in America , ” “double doctorate “” more than 1000 million square meters project experience “and” more than a dozen foreign countriesFundSupport ” , these words touched new blood richest man , a Beijing Gome Properties Limited (the United States and home country ) leave executives told the “financial “reporters , ” After listening to half of Huang Guangyu , Close said, what terms you want ? ”
Year in December , the National US- registered home ownership , Yu Jinyong as a general manager for the annual salary of 400,000 yuan treatment , net profit plus 4% of the annual 50 million commission reimbursement amount . Huang Guangyu wound up capital leverage begun to taste the sweetness of a keen interest in industrial and capital linkage , the real estate business men he had said , “I have to do real estate investment money, what should you use ? “To avoid professional Into traditional thinking patterns to deliberately employ professional background is not obvious yellow executives .
The early stage, Yu Jinyong , ” Asset -based , equity capital “of the “capital property “theory for colleagues was dazzling once , but soon , it will reveal the lack of real estate basic business knowledge . “Even the FAR do not know, won the land , the seven days would start , five months of delivery of the premises . he did not know , after not planning to take to design, light pre- approval would have at least six months . ” The U.S. home leave country Executives recalled , after being questioned , Yujin Yong replied , “You are short-sighted . ”
A large part of this period of time Yu Jinyong to the media, ” the real estate sector capital players “”China’s capitalOriginators of the property theory , ” “knowledge “and the title after another .
Yu Jinyong ‘s main task is to find and “see much less negotiated . ” the executive recalls, ” like many developers , like Huang Guangyu was insightful Take , do not pay to get the whole tail section Only pay a small amount of land transfer . As the Government crack down on hoarding of the developers did not strict , not to mention his relationship with the relevant departments is also very good . ”
April 2005 , the National US- home to 41 million yuan deposit , 805 million yuan photograph in southwestern Fengtai District, Beijing Fourth Ring block for the development of the “National American Capital ” project . Yu Jinyong continued in Liangshan , Kay Love Network “high tech” packaging path, advocated the project packaged as ” the world’s electrical and electronic high-tech experience center. ”
But its so-called “high tech “concept has not been seriously discussed , in this process plays a leading role , is another meeting in an advisory capacity , known as a ” godfather of Chinese real estate market , ” the disciples of the Queen . ” We had to Fengtai item pricing is 14,000 yuan / square meter , but this person made to sell 30,000 yuan per square meter , and 1 square meter is not sold , to be valued more than 100 million into listed companies, the ability to turn 4 Sold to investors five times . ” recognition of this idea by Huang Guangyu . However, this 3.8 billion project known as investment , location after several adjustments, has been outstanding sales, much of the money the United States precipitated the country .
But the executives believe that the responsibility can not be borne by the Yu Jinyong a ” theory of capital property , They can be described as interactive , not to mention the power is very limited Yu Jinyong , Close is Huang Guangyu to do . ”
In August 2005 before and after , there are staff there to report Yu Jinyong placed friends and relatives , low operational capacity issues , and then in September , the Yu Jinyong was Huang Guangyu of ” divulging company’s development plan ” in the name of dismissal .
Tianjin try water
” States United States Land “and end up lost , does not preclude Yu Jinyong carry ” Huang Guangyu real estate partner ” in the name of incursion .
Unemployed for nearly a year later, in July 2006 , Yu Jinyong established in Hong Kong Chinese Generation Investment Holding Group Co., Ltd. ( hereinafter referred to as the Age of China ), known as the registered capital of 1 billion yuan , 13 behind the support of foreign funds . But the company ‘s registered capital is only 1 true million, the majority shareholder Wesley-Smith 8500 study funded HK , Yu Jinyong 1500 dollar investment .
Two years later, Yu Jinyong another generation of China Investment Group Co., Ltd. was established , only the word of the other , is also 1 million registered capital , of which 8500 dollar investment Yu Jinyong , Wei Zhao , Yu Aili , Yu Jinchuan 500 each dollar invested .
Leave the country after the United States , no longer limited to their self-image in the media for packaging , Yu Jinyong more interested in look for an opportunity with a photo at all levels of government officials , many of whom are former NPC Vice Chairman , former Minister of Construction , Chongqing, Hubei provinces and two major And leadership . High-profile suspension of its website , which is where he approached the project increased sharply in the “image points . ”
In 2005 , he began to touch Jinghai County of Tianjin , and the initial development of about 4,000 acres to reach the generation Metro project . January 2008 , this plot of land in the trading center of Tianjin traded a starting price of 668 million yuan , bid bond is 300 million yuan . 1.5 billion investment project requires the construction of the hotel , invested 700 million yuan in the international exhibition center and 400 million yuan investment in high-grade office buildings .
But Yu Jinyong ‘s company did not pay the deposit on time , and delisting , the end of the project land Liupai . Since then, Jinghai county government issued a circular to repeal and Yu Jinyong cooperation framework agreement signed by both parties in August 2008 after a formal ” split . ”
Participated in the negotiations of the project people in Jinghai county “financial “reporters , said Yu Jinyong want to ” sleight of hand tricks “approach to land development rights , abortion, the final project , Jinghai County, to an enormous economic losses.
Listed in the block before , Jinghai County Government commitment to January 30, 2008 completed the demolition . To this end in mid-2007 under the county government issued a circular calling for in 2008, discontinued in the brick block , children’s park demolition , start with the project on track . Finally, the state-owned brick background have all been bought out more than 1,000 employees length of service , average compensation for the 7 million yuan.
Local source estimates , Jinghai County, this project directly to losses of at least more than 100 million yuan , and by the Government pays the bill .
Chongqing ” Ukraine has flat ”
Tianjin test the water over the same period in 2008 , the Yu Jinyong announced high-profile investment 44 billion yuan in Chongqing Jian Sheng Dadukou District, to do the overall development of the town , including the core area is known as the seven -star hotel 385 meters . Now, here ‘s farm buildings and uneven slopes is still a city outskirts scene .
Before June 2006 , large mouth Peninsula ferry fishing area will be included in development plans , has more to investors expressed willingness to invest . A year later , the project Yujin Yong informed , in August 2007 he took the initiative to visit the district government leaders , intent to fish mouth were developed on both sides of the peninsula divided . Among his most preferred level of land development rights .
Year in November , Yu Jinyong area of planning the big ferry design , largely based on two building area of 250,000 square meters of Chao Qi -star hotel at the core of the international business district of central leisure (CRBD).
As the program has been developed CRBD preferred . “But the project ‘s initial investment of 100 billion yuan . ” district government staff , said Yu Jinyong said at the time , 100 billion yuan of funds and not large , established for generations in China over the past year , participation, control of development There are 16 projects , their development and joint development projects with 13 million square meters .
July 2008 , Yu Jinyong and Dadukou District Mayor sign a ” fishing intention mouth Peninsula project development agreement . ” But Dadukou District in charge of publicity at that time found , they urge that the introduction of the “CRBD”, by Yu Jinyong actively gather media reports as ” Super Seven Star Hotel ” , which makes them a lot of pressure , ” in fact this time planning Program is not finalized . ”
The source explained that the intention of the agreement on the premise that Yu Jinyong must first reach an agreement with Chongqing Real Estate Group in Chongqing , Dadukou District registered company, first invested at least 10 billion yuan . Until now, Yu Jinyong not locally registered company , let alone investment .
“He’s such a preconceived dissemination of information , so that the outside world mistakenly thought they had been right to develop . ” The district government sources said , was China’s Chongqing area Bingbu agreed to invest hard cash generation in the case did not have the right to land development . Without a right to develop , Yu Jinyong obviously can not obtain bank financing channels .
By the end of March 2009 , Yu Jinyong final agreement with the Chongqing area about this project , since no more is heard .
” characteristics of the real estate industry itself does not have only considered a business, where the developers can only be regarded as a collection of operators . because the land is rented to the state to pay land transfer ; house construction company to do ; design is by design Company to do the . to other people’s things together , nothing more . ” Yujin Yong told the media analysis .
Use of land for the project to obtain bank credit , and then scroll through the Days Sales Outstanding to achieve development, the usual means of real estate development . Yu Jinyong tried as a shell company portfolio of bank funds and governmental approvals and other resources to reap huge profits , is also a lot of real estate business ” success story ” in the first half .
The former country home executives lamented the U.S. , Yu Jinyong decade “of real estate history ” , just with the corresponding growth of Chinese real estate market . In this land and capital formation by the industry, relying on ” Karate ” in the bank, walk a fine line between local government , and far from Yu Jinyong one .
And many more have overseas background , highly educated elite units of the title or link status , and it is still active in the real estate industry ‘s fortune over the path , but Yu Jinyong the upgrade . ” The difference is that they are successful , are low-key down . ”