Henan Song Ji Hui'S Financial Foundation Was &Nbsp, Suspected Of Illegal Financial Operations.

Enveloped

There are indications that it is not just the incumbent Secretary General Zhang Handong who is responsible for the investment company.

A business from Henan revealed to the first financial daily that many enterprises in the province signed with the song foundation of Henan.

In addition, Linzhou, Henan, once named the "Song Qingling foundation" involved in illegal financial business cases.

Facing the doubt of planting clock, Liu Guangjie, head of Henan song Foundation Office, refused to be interviewed by reporters.

Big income and small public welfare

As a service platform for fully disclosing the industry information of the foundation, the data of the foundation central network show that the total assets of song Ji Hui in Henan soared from 1 billion 567 million yuan in 2008 to 2 billion 988 million yuan in 2010.

What is the concept of "2 billion 988 million yuan"?

In 2010, the total assets of the Red Cross Foundation of China were 727 million yuan, while the Song Qingling foundation of China was 275 million yuan.

That is to say, the assets of a local institution are nearly three times the total assets of the two national charities.

In terms of donation income, Henan song Ji Hui reached 1 billion 11 million yuan in 2010, which is also far higher than the sum of the above two foundations (the Chinese Red Cross Foundation 538 million yuan and the Song Qingling foundation of China 161 million yuan).

In those days, the total income of song Ji Hui in Henan was 1 billion 34 million yuan.

However, the data on public welfare expenditure of song Ji Hui in Henan show that it is not commensurate with its huge volume.

According to the data of the foundation central network, the public welfare expenditure of song Ji Hui in Henan in 2008 ~2010 was 50 million yuan, 78 million yuan and 139 million yuan respectively.

Such expenditure is too small to be judged through the foundation management regulations.

The Ordinance clearly stipulates that the public fund shall be used annually for public welfare undertakings stipulated in the articles of association, and shall not be less than 70% of the total income of the previous year.

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Where does money come from?

According to the data inquired by reporters, the donation amount from over 1 billion yuan in Henan song Ji Hui in 2010 was 763 million yuan from domestic natural donors.

This is different from the big donations from other foundations.

Why does this foundation make such a big appeal to individual donors?

A body called the Henan public health insurance development management center emerges.

Caixin reported that the center was co sponsored by many parties. Besides the song foundation of Henan, it also included two government departments and an insurance company in the province.

This report quoted a person in charge of the Civil Affairs Department of Henan province recalled that around 2005, the song foundation of Henan launched a large scale "paid donation" in the province, that is, after the public donated 10 thousand yuan to the foundation, the foundation returned a "subsidy" higher than the same bank interest rate each year within a certain period of time, and then returned the principal of the donation after the expiration.

This practice has aroused provincial leaders' vigilance, convened a number of departments to hold joint meetings, and characterized the "paid donations" as illegal fund-raising.

Later, by the Civil Affairs Department "

A person from Luoyang, Henan, told reporters about what she saw a few years ago: a lot of people on the street were giving out leaflets. The contents of the leaflets were that only 10 thousand yuan should be deposited in the Henan public health insurance development management center, not only to get a subsidy of about 300 yuan, but also to get a 10 thousand yuan principal in 1 years, and at the same time, they could get 10% of the medical expenses waiver and 30 yuan per day during their illness. If there was an accident, they could get the highest 300 thousand yuan accident insurance.

The source told reporters that his relatives also invested 20 thousand yuan to participate in the "public health insurance", a regular year, but did not get the official invoice from the center.

On the afternoon of September 5th, the reporter still found the office of "public health insurance management center" when interviewed by Henan song foundation headquarters in Zhengzhou Civil Aviation Road.

Another intriguing detail is that the Linzhou municipal government issued a notice in 2010, requiring practical precautions against financial risks and further clarifying the responsibility for supervision and disposal.

The notice clearly pointed out that part of the investment in the Linzhou area and Guarantee Corporation's covertly surpassing business scope illegally engaged in financial business, illegal fund-raising and illegal storage, and formed huge potential financial risks.

The notice disclosed a series of cases disposed of since 2003, including the Song Qingling Foundation's illegal financial operations.

The directionality of the Song Qingling foundation has been quite obvious.

The Song Qingling foundation of China explained 3 days ago that it had "no subordinate relationship" with the local Song Qingling foundation.

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Enterprise's helplessness

Prior to the "Southern Weekend" report, public welfare projects partially pformed into luxury homes, which triggered concern outside the Henan song foundation.

It involves Henan song Ji Investment Co., Ltd. (hereinafter referred to as "Song Ji investment").

Industrial and commercial information shows that the legal representative of song Ji investment is Zhang Handong, the current Secretary General of the song foundation of Henan.

The reporter further inquired about the industrial and commercial data and found that there was also a Zhengzhou Huan Rong Cci Capital Ltd of the legal representative for Zhang Handong.

The legal representative of Ming Guang Cci Capital Ltd in Zhengzhou is also called Liu Guangjie.

The addresses of these three companies are exactly the same, all of which are 1, 3 and 1 of 1 Civil Aviation Road 1, Jinshui District, Jinshui District, Zhengzhou.

There are many investment consulting companies in this office.

A person who claimed to have worked in the song foundation of Henan for many years told reporters that most of these investment companies played a role in providing loans to enterprises with capital needs through "investing for donations", and these enterprises had to pay a high price for them.

A widely quoted judgment from the Shangqiu intermediate people's Court of Henan province shows that there has been a dispute over the loan contract between the Ministry of development of Henan's song foundation and the Limited by Share Ltd, the appellant, Henan Hengxing paper and other enterprises.

The judge of the case confirmed the authenticity of the case in an interview with reporters.

In September 6th, the reporter was informed that Hengxing paper related responsible person was told that today, the company is on the verge of bankruptcy.

A company from Henan also told reporters that a number of enterprises in the province signed a similar loan and donation contract with the song foundation of Henan. Their enterprises also borrowed 8 million yuan from Henan song foundation, and finally donated "no less than 1 million 650 thousand yuan" to Henan song Ji Hui.