The case of Zhou Xiaodi, a Shanghai real estate tycoon, led to 160 million greed.
In April 2001, Shanghai County Real Estate Corporation was renamed as Shanghai Zhongxiang (Group) Co., Ltd., and was transformed from a state-owned enterprise into a private enterprise invested by natural persons. The transfer of the right to use the 2,536 mu of land that has been repeatedly moved took place during the restructuring period.
Zhou Xiaodi, a Shanghai real estate tycoon, is suspected of hiring a murderer to hurt people, and the case of "reselling" the land is about to be staged.
National business daily learned through reliable sources that Qin Jinlong, the former legal representative and president of Shanghai Zhongxiang Group Co., Ltd. (hereinafter referred to as "Zhongxiang Company"), who had cooperated with Zhou Xiaodi, was accused of corruption and will appear in court in early March.
The prosecution alleged that Qin Jinlong instructed Ding Beili, the former chief financial officer of Zhongxiang Company, and Zhang Yong, the former party secretary, to illegally occupy more than 3,000 mu of land transfer benefits during the company’s restructuring, among which Qin Jinlong was accused of embezzling state-owned assets of more than 161 million yuan, a huge amount which is rare in China. The case of Qin Jinlong is inextricably linked with the 2,536 mu of land that Zhou Xiaodi has repeatedly moved.
Tracing back to the case of hiring a murderer to injure someone and take out the land
On December 25th, 2008, Zhou Xiaodi, the former chairman of Shanghai New Century Yide Real Estate Company, who was named as the "son of Pudong", appeared in court in Shanghai on charges of intentional injury and illegal reselling of land use rights.
According to the accusation of the First Branch of the Shanghai Municipal People’s Procuratorate, from September 2001 to November 2006, in the name of "joint development", Zhou Xiaodi granted 2,536.048 mu of land use right of Sanlinyide plot in Pudong New Area, It was illegally transferred to Shanghai Sunshine Investment (Group) Co., Ltd. (hereinafter referred to as "Sunshine Company"), Xizi Elevator (Group) Co., Ltd. (hereinafter referred to as "Xizi Group"), Shanghai Xinrong Real Estate Development Co., Ltd. (hereinafter referred to as "Xinrong Company") and Shanghai Environmental Real Estate Investment Development Co., Ltd. at a price ranging from 570,000 yuan to 1.25 million yuan per mu, and collected more than 2 billion yuan from the above companies successively.
Yide Company only owns more than 2,500 mu of land development rights, but Zhou Xiaodi promised that Sunshine Company has 1,243 mu of land, Xizi Company has 800 mu of land, Xinrong Company has 475 mu of land, and it has to keep 500 mu of land for independent development rights, thus realizing "selling more in one place".
On November 6th, 2007, Yin Minghua, the shareholder representative of Xizi Group, was violently attacked and seriously injured. It is understood that there was a conflict between Yin Minghua and Zhou Xiaodi for the equity of Sanlin Yide plot. Soon after, the police arrested Zhou Xiaodi, who was seriously suspected.
Illegal acquisition of source land
Half a year after Zhou Xiaodi was brought to justice, the Shanghai Real Estate Bureau issued a document entitled "Decision on Reclaiming the Land Use Right of Sanlinyide Residential Area in Pudong New Area", which reclaimed 2,536 mu of land use right of Sanlinyide plot repeatedly overturned in Zhou Xiaodi and re-entered the land resource reserve center of Pudong New Area as reserve land. This is the largest piece of land recovered by the Shanghai government over the years. The reason of the Real Estate Bureau is that the relevant cooperation agreement has not been approved by the government, and the land transferor, Shanghai County Real Estate Corporation, did not include the land use right in the scope of restructured assets in the process of enterprise restructuring.
This official document implies more inside information-it is illegal to obtain this plot that caused many right and wrong at first. The last one who sold land to Zhou Xiaodi is the predecessor of Zhongxiang Company-Shanghai County Real Estate Corporation.
According to public information, on April 9, 2001, Zhou Xiaodi established Shanghai New Century Yide Real Estate Co., Ltd. (hereinafter referred to as Yide Company) in the name of Shanghai New Century Venture (Group) Co., Ltd. (hereinafter referred to as "New Century Company") with Shanghai County Real Estate Corporation and another government-backed Zhongxing Company. Zhou Xiaodi New Century Company actually transferred the right to use this 2,536 mu of land from Shanghai County Real Estate Corporation for 634 million yuan.
National business daily learned from people familiar with the matter that Shanghai County Real Estate Corporation, with the approval of Shanghai County People’s Government in December 1992, requisitioned 2,536 mu of land in Sanlin Town, Pudong for the development and construction of Yide residential area. In 1993, the company signed an agreement with Zhongxing Company to develop the plot. However, after paying part of the preliminary project cost, Zhongxing Company was unable to pay the rest, so the project ran aground.
In 1996, the land management department of Pudong New Area issued a notice to start construction within a time limit for Sanlinyide plot, which has been assigned to Pudong New Area. If the Shanghai County Real Estate Corporation fails to start construction before the end of 1997, it will recover the land use right according to law. However, after that, the plot still shows no signs of being ready for development.
By means of "disappearing" the land in the process of "retreating the country and advancing the people"
After several years, how did the land that should have been reclaimed by the government transfer to Zhou Xiaodi?
According to informed sources, from 1996 to May 2001, Shanghai County Real Estate Corporation repeatedly applied to Pudong New Area Comprehensive Planning and Land Bureau to extend the term of the land use permit. However, on April 27th, 2001, the Shanghai Administration for Industry and Commerce has approved the renaming of Shanghai County Real Estate Corporation as Shanghai Zhongxiang (Group) Co., Ltd., and transformed it from a state-owned enterprise into a private enterprise invested by natural persons.
During the cooperation between Qin Jinlong and Zhou Xiaodi, Shanghai County Real Estate Corporation was in the stage of restructuring. The transfer of the right to use the 2,536 mu of land that has been repeatedly moved took place during the restructuring period.
Relevant information shows that Qin Jinlong, 61, was appointed as the legal representative and general manager of Shanghai County Real Estate Corporation in 1992. After the restructuring of the company, he served as the legal representative and president of Zhongxiang Company, owned 40% equity of Zhongxiang Company, and had the right to decide on land transfer.
According to relevant judicial documents and administrative notices, Qin Jinlong signed an agreement with New Century Company with Zhou Xiaodi as the chairman in the name of Shanghai County Real Estate Corporation, and then collected the relevant land transfer fee of 530 million yuan in the name of Zhongxiang Company. The process of Qin Jinlong’s profit-making is finally emerging.
In broad daylight, how was more than 2,500 mu of land in Sanlin Yide hidden? The answer should be found in the financial report of Shanghai County Real Estate Corporation during the restructuring period.
According to the investigation of the prosecution, at the end of 1999, Qin Jinlong and others provided the audit institution with the expired land use right certificate of Sanlin Yide plot, concealing the materials that were applied for extension of development and were approved. Therefore, Yide plot was not included in the property reported by the company for restructuring.
According to the above investigation, the prosecution found that Qin Jinlong embezzled 54.39 million yuan of state-owned assets.
Case analysis, restructuring through the road, Qin Jinlong’s crazy move
Sanlinyide plot is only the largest plot hidden by Qin Jinlong and others.
In 1999, on the eve of the restructuring, Shanghai County Real Estate Corporation transferred 69 mu of land in Longbai Sixth Village to Shanghai Fosun High-tech (Group) Co., Ltd. for more than 100 million yuan. When Qin Jinlong reported the restructured assets, he fictionalized the transfer payment of more than 50 million yuan paid by Fosun as a loan. Ding Beili, the chief financial officer, and Zhang Yong, the manager of the pre-development department, all participated in this time to varying degrees, resulting in the land transfer money before the restructuring falling into the pocket of Zhongxiang Company. The prosecution finally determined that the three people jointly embezzled 87.15 million yuan of state-owned assets this time.
In 2000, Qin Jinlong and Ding Beili lied to the audit unit that the 833 mu of land in the plot of Hengxing, Chen Hang, could still be developed and used. In 1993, the plot was transferred to relevant companies for development at a price of 60 million yuan, and the 833 mu of land in the plot was not evaluated as a converted asset.
In March 2001, in the name of Shanghai County Real Estate Corporation, Qin Jinlong transferred 833 mu of land to Shanghai Pengxin Real Estate Development Co., Ltd. and Shanghai Pengxin (Group) Co., Ltd. for 230 million yuan, and the other party paid a total of 172.6 million yuan to Zhongxiang Company. Qin Jinlong and Ding Beili embezzled 19.05 million yuan of state-owned assets.
The prosecution finally found that Qin Jinlong embezzled 161 million yuan of state-owned assets, while Ding Beili and Zhang Yong were involved in embezzling 106 million yuan and 87.15 million yuan respectively. Since all three people were state employees before, they should be investigated for criminal responsibility for corruption according to the Criminal Law. The case is expected to be heard publicly in Shanghai No.1 Intermediate People’s Court in early March.
file cover
Suspect: Qin Jinlong.
Accused of: corruption
Accused fact: embezzling state-owned assets of 161 million yuan.
Editor: wangxin