Xinhua News Agency, Beijing, January 13, investigation for suspected serious disciplinary offences, qingshan district, Wuhan City, former Communist Party Secretary Gao Yuqi, has been transferred to judicial organs. Gao Yuqi disciplinary offences, involving embezzlement of tens of millions of Yuan of public funds to buy the trust products.
“Xinhua viewpoint” investigative journalism shows that in recent years, some local officials, financial personnel, such as misappropriating public funds, used in the stock market, lending and the purchase of banking products. According to incomplete statistics, in the past two years, discipline inspection and auditing system across the country to investigate breaches of public funds “money” worth more than 2 billion yuan. In fact, the Treasury has been in the work carried out within the six-month financial security throughout the country. Comprehensive two child policy in mind 15 relay
Father and son complicity in using special funds for financial profit, investigation departments or individuals using public funds “wealth management”
According to reporter found Gao Yuqi while serving as a Secretary, qingshan district, Wuhan urban construction Bureau, and his son in a Bank as an account manager in Wuhan. Father and son complicity in using urban construction Bureau “idle” infrastructure special funds to buy financial products, helping son improve work performance and gain a Commission of nearly 500,000 yuan.
Gao Yuqi embezzlement of huge public funds “wealth management” end up losing. In 2010, the Gao Yuqi after infrastructural capital of 20.2 million Yuan to purchase trust product is utilized, which lost money in 2013, be forced to close, causing public loss of nearly 7 million Yuan.
Under the provisions of criminal law and relevant judicial interpretation stipulates that State personnel who take advantage of the convenience of duty, embezzlement of large amounts, for profit-making activities, which constituted the crime of embezzlement. Misappropriation of public funds deposited in a Bank, used to raise funds, the purchase of stocks, bonds and so on, belonging to the misappropriation of public funds for profit-making activities.
In recent years, recurring public funds irregularities as much “money”. National discipline inspection and auditing system in the past two years to inform the audit reports and cases, Beijing, Guangdong, Anhui and Hubei provinces are found a number of departments or individuals, such as misappropriating public funds for the purchase of products, stock speculation in futures, lending violations such as charging interest “Finance”. According to incomplete statistics, involving total funding of more than 2 billion yuan.
Pu San Cheung, Machikou Town, Changping District Agricultural Services Center Director, embezzling village funds to finance and investment, investment totaling 821 million Yuan. Guangzhou science and Technology Fund is for the purchase of short-term financial products multiple times, the cumulative amount of more than 800 million Yuan. Yunxi County of Hubei Province has been an audit of township finance from capital account liabilities in villages and towns of 3.25 million Yuan lending to individuals. The finance official said that idle money liabilities to individuals, is to charge interest to compensate for insufficient funds.
Gong Guan Executive Xu Guangjian, Deputy Director of the Institute, Renmin University believes that funds are needed for the functioning of public sector funds, misappropriation of funds, “money” belongs to the violation of financial abuse.
Reveal three large public funds “wealth management” means
Industry experts, not public funds of funds are not money. Only treasuries at various levels, social security fund Department on finance to use public funds to finance and investment, achieve value and take deposits and purchases two main ways. Reporters combed found, misappropriating public funds irregularities such as “money”, for personal gain for individuals or small groups, mostly in three channels:
–With the help of subordinate enterprises of “sneak”. People within the financial system, with the Treasury single account and financial account management being perfect, directly from your financial account funds for financing is difficult. Unless the body by subsidiary companies or independent accounts, financial funds and then “sneak”, by the affiliates agents of various types of financing.
Gao Yuqi to finance and successfully spend tens of millions of financial irregularities, is using under secondary units supplying project of Wuhan company account funds. Authorities which handle their cases identified, signed with institutional investors buying financial products agreement is the sincere company, 20.2 million Yuan investment in the supplying company’s actual investment of 2.2 million Yuan, while the remaining 18 million Yuan was arranged by Gao Yuqi, qingshan district construction Bureau Finance Department of infrastructure funds transferred to the supplying company account.
Deposit public funds in personal accounts–accounts of “difference”. Jiangxi Province Jian judgments embezzlement case in the near future, a rural area construction and management station in villages and towns of thanks, because the Township financial institutions only a postal savings and cannot be opened for public accounts, the management station charge land gold, performance gold deposit public funds pending personal account of custody without public funds paid to the county seat to fiscal accounts on a regular basis. Using time difference collected and turned over to the public, thanks to 5.83 million yuan of public funds deposited in his personal account to buy financial products, 25,600 Yuan profit was sentenced to 6 months in a year.
Professor Yeh introduced College of zhongnan University of finance and taxation, deposit public funds in personal accounts can easily lead to embezzlement, embezzlement, formed slush fund risks, has been a financial clean up priorities at all levels. However, some bodies for personal gain, or grass-roots financial conditions could not be opened for public accounts, intentionally or not, keeping large amounts of money into his personal account, so for the use of public funds provided illegal financial advantage.
–Accountant cashier forged documents inside job. The industry, some grass-roots departments and enterprises of the financial staff, cashier accounting “shoulders” financial management loopholes, forged financial documents, misappropriating public funds for personal stock, financing and the phenomenon is more prominent. Some quickly returned after a short diversion, unless special audit investigation or embezzlement losses, and so on, it is hard to detect.
Anhui Institute of opto-electronics is a State-owned institution. Original cashier accounting Institute of the Ministry of finance Zhu Guohua, was sentenced for embezzling 9.47 million Yuan. Investigators found, Zhu Guohua used often handling unit transfer service facilities, stealing covers legal chapter, finance stamp and other means, 9 times for embezzlement for stock or help banks embrace storage tasks. Zhu Guohua and forged bank seals, produced a false bank statement each month, and attempt to cover up illegal acts.
Nationwide financial security, governance needs to strengthen the budget constraints
Ye Qing, industry insiders said, in recent years, idle financial capital, and to provide public funds to illegal financing “pool”. Public funds intended for the public domain, and diverted to small groups or personal financial profit, because of the high investment risk, and a loss is very common.
China Southern Airlines Group, former Deputy General Manager Peng Anfa, former Minister of the Ministry of finance Chen Liming, who misappropriated more than 1 billion yuan of public funds to finance and securities company, ultimately cannot be recovered 300 million Yuan. Shandong shengli Petroleum Administration Bureau in Bohai Sea Drilling Corporation housing Provident Fund management officer Zhang Shifen, misappropriation of workers housing fund of more than 20 million Yuan stock speculation in gold, losing nearly 9 million Yuan could not be returned.
This reporter has learned, whether public financial value and the amount of revenue, destination, as long as part of national staff misappropriation of public funds for profit-making activities, were suspected of crime. Even in internal program is approved, the illegal use of public funds to finance special Finance in particular, constitutes a breach of financial discipline, they have to be accountable.
“Violation of misappropriating money despite repeated prohibitions, must be behind financial control is not perfect, especially accounts due to loose management. “The financial system said the current Government funds revenue management departments, enterprises and institutions, grass-roots financial institutions sector and other special accounts of income and expenditure is not standardized, and often becomes embezzlement finance areas.
At present, undertaken within the Ministry of Finance has been in the country for a period of half a year of financial security, this includes account management, cash management and accounting of financial funds. Industry experts, finance and the special inspection is likely to find some clues, and urged relevant departments to take the appropriate steps in the investigation and trapping.
Said Xu Guangjian, funds and other public funds must strengthen auditing, inspection, urged the Government to comply with the financial rules and regulations of the financial sector, finance sector. Experts suggest that management funds and other public funds irregularities “financial” chaos, one needs to strengthen accountability and enforcement, for alleged embezzlement of public funds personnel firmly transferred to judicial organs, vigorously carry out warning education, on the need to strengthen their fiscal budget constraints and monitoring, reducing funds idle.
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