The reason is somewhat weak: someone in this listed company used their position to leak financial information and profit from it in the stock market.
All the company's managers and above were taken away.
Ultimately, this led to the company's complete collapse, facing not only expiring debt contracts but also a ban on further business development.
Furthermore, the federal investigation resulted in a fine of over ten million dollars.
Forced into a corner, the company's shareholders wanted to sell the company and get out as quickly as possible.
The asking price was over 50 million, and two companies came to compete, offering 56 million and 57 million respectively.
As a result, GM also gave a quote of 40 million.
Just as the highest bidder was about to sign the acquisition agreement, the FBI issued a notice stating that the purchase was possible, but a penalty would have to be paid.
This means it's not just a matter of 50 million, it's an acquisition of 70 million.
Both companies were scared away, leaving only GM. Even with the fine, it only amounted to a little over fifty million.
After reading this case, Xing Baohua thought about his own situation.
The other party is no longer asking him to leave the profits; they want to wipe him out completely!
I've always been careful, just trying to make a little money to spend, and now he even wants to take away my stall?
Who would buy a financial company like this? To put it bluntly, apart from the people, this company has no value whatsoever.
Even if you include the employees, how much are they worth?
If it were possible to sell like that company that was forced into it.
Xing Baohua doesn't mind selling the company to get the money back.
It's hard to say, but this company is just a shell company; anyone would know that.
but……
Thinking about this, Xing Baohua felt that his thoughts were becoming clearer.
debt.
Only the debt in a betting agreement is valuable.
If this debt is sold at a low price, it will become a dog-eat-dog situation.
Xing Baohua can just watch the show in peace, but the question is, who would be willing to buy this company that's still embroiled in litigation?
Who isn't afraid of trouble?
Now that he had a new idea, Xing Baohua needed some time to think about it.
The next day at work, Xing Baohua saw a news report that he had received support from within China.
To put it simply, I've recently been concerned about whether the funds invested overseas by Chinese businessmen are protected.
And we will continue to monitor the situation.
Although it was a piece of advice that was neither helpful nor useful, Xing Baohua still felt the support of her family.
After bringing up these matters, Xing Baohua began preparing to sell the company.
The lawyers are trying to bail out those who were taken away; they haven't finished questioning them yet, and it hasn't been 24 hours.
Upon arriving at the company, Xing Baohua called over all the finance staff to begin auditing the company's current financial situation and debt issues.
Actually, this guy has always used loans for investment.
Therefore, he is currently in a very serious position.
Leaving aside the billions involved in the bet, the total debt from the stocks he purchased amounted to 4.3 billion US dollars.
All the miscellaneous items added up to over six billion.
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