Chapter 518: Dominoes

everything is over.
Ye Zhuangling stood in the center of his office on the 32nd floor of the Central Building and took the last puff, swallowed it into his lungs and exhaled it slowly. Finally, he felt the burning sensation of his lungs, and then randomly threw the cigarette butts. On the ground, I didn't even glance at the luxurious wool carpet that was gradually ignited by unextinguished cigarette butts.
This action caused him to cough violently, and even choked up tears.
But what does it matter?
Ye Zhuangling's original intention of establishing the Dominican Finance Company was to take a fancy to the various financial derivative services needed in the growing immigration activities of Hong Kong people.
However, with the activeness of the Xiangjiang financial market, he gradually became dissatisfied with the little money he earned from these services. He wanted to make more, just like those famous tycoons in Xiangjiang.
Therefore, starting from September 1981, he repeatedly took a blank check to the overseas trust bank founded by his friend Zhang Mingtian to discount. Due to the time difference caused by the transfer of the check, he can deposit the money from the second check discount into the account. Make the first check cashed.
In this way, he can always have the money of a check in hand, and this money was used by him to engage in high-risk speculative activities in the financial market.
It is a pity that all of his speculative activities ended in huge losses. He had to roll his "check wheel" bigger and bigger because he was stuck in the gambling table. For this reason, he even bought the current chairman of the Overseas Trust Bank Huang Changzanhe. He made false accounts together to deal with the bank's audit.
However, the Overseas Trust Bank was only a small bank, and his family was quickly emptied. In desperation, in order to maintain the normal operation of the "check wheel", he set his sights on another bank that has a good relationship with him-Hang Lung bank.
He almost succeeded.
Hang Lung Bank opened an account for him, provided cheque discount services, and issued a new cheque for him. As long as the cheque to Standard Chartered Bank can be cashed, then his "check round" can continue.
But Standard Chartered refused to pay!
The first domino has been overthrown, so the collapse of the entire empire will be in an instant.
So, everything is over!
He walked to the window of the office and opened it. Outside the window was the endless blue sky blowing by the sea breeze.
The unsqueezed cigarette has set alight on the office carpet, and the raging flame is burning, and he suddenly wants to laugh.
"The loser is not qualified to live!"
He finally said this sentence, as if he wanted to say goodbye to the whole world, then took a deep breath and jumped out of the window.
...
The news of Ye Zhuangling's death immediately caused a chain reaction in the capital market, and the fire that ignited before his death made the whole thing even more confusing.
The fire not only burned all the company’s information, but also added a lot of bizarre colors to Ye Zhuangling’s death. For a while, various legendary versions were circulating in the Xiangjiang market. Some said he committed suicide, some said he was killed. Suicide, it is also said that he chose this tragic way because he had no way to escape and he did not want to burn himself in flames...
However, it doesn't matter what kind of statement it is, the important thing is that with his death, everything has surfaced.
The first to suffer must be the overseas trust bank, which he has hollowed out.
When someone came to the overseas trust bank with checks from the Dominican Finance Company one after another to ask for discounts, Huang Changzan knew that the matter could no longer be concealed. He approached Zhang Mingtian and admitted all this. While Zhang Mingtian almost had a stroke, he was angry. He had no choice but to truthfully report the matter to the Hong Kong government, because at this time, he had nowhere to go.
When the Governor of Hong Kong, Sir Youde, saw this report, he was frightened and sweated on the spot.
The aftermath of the financial storm a few months ago was not over, and the cause of the storm was a Ponzi scheme by the "Xie Liyuan" gold shop, and now, at this terrible point in time, it actually broke out again. A pile!
Under his instructions, the Hong Kong government took swift action. Before the market had reacted, the Overseas Trust Bank suddenly announced that it had closed business for two days "because it was unable to repay the debt." It shows that the dark losses of overseas trust banks are not just the nearly 70 million US dollars of losses caused by the "check wheel" of Ye Sengling. Including this, the entire overseas trust bank's losses reached 3.1 billion. Hong Kong dollar!
When these figures came to the press, although the government had announced a full takeover of the overseas trust bank and promised to start debt repayment negotiations with all creditors, the share price of the overseas trust bank continued to fall in a tragic posture of high diving. .
Sir Youde’s measures cannot be said to be untimely, but the scale of the storm far exceeded his expectations.
As the problems of overseas trust banks were exposed, people naturally turned their attention to Hang Lung Bank, which had escaped by chance in the last wave of financial turmoil.
The case of Standard Chartered Bank’s rejection of Hang Lung Bank’s cheque was quickly exposed by some people with ulterior motives.
Everyone’s memory is still fresh. It was Standard Chartered Bank’s tireless support for Hang Lung Bank that allowed Hang Lung Bank to barely survive the last wave. However, this time, it is very obvious that Standard Chartered Bank will no longer endorse Hang Lung Bank. .
The Hang Lung Bank, which lost its last backer, soon fell in a storm that broke out again. Its old wounds were still unhealed and it did not even survive for half a day this time.
In desperation, Sir Youde had to repeat his tricks and ordered the government to take over the Hang Lung Bank again.
In the subsequent audit, Hang Lung Bank also exposed the same problems as overseas trust banks. The actual loss of up to 336 million yuan was concealed for a long time. The bankrupt Diners Finance Company actually owed the Hang Lung Bank 800 million Hong Kong dollars. Directors and affiliated institutions
borrowed
HK$266 million from banks with little or no collateral...
The second domino has fallen.
And these, of course, are not the end.
Ka Wah Bank, founded in 1922, can be regarded as an established bank in terms of history alone. During the period when the founder Dr. Lin Zifeng was operating, it has always had a good performance and outstanding reputation.
Unfortunately, Lin Zifeng passed away in 1975, and his descendants had no intention of operating, and sold the bank to the Singaporean businessman Liu Cansong brothers.
In 1980, Ka Wah Bank was listed on the Hong Kong Stock Exchange, and immediately began its frenzied expansion.
And this expansion is based on fraud constructed with various financial tools.
K. Wah Bank has always been closely related to overseas trust banks, which is well known to the world. So when the overseas trust bank had an accident, the market began to rumour that K. Wah Bank also had a large number of bad debts that were difficult to cash, and it might even have participated in many financial frauds. case.
Just when people were still suspicious, an explosive news broke out. Brother Liu Cansong, the actual controller of Ka Wah Bank, a businessman from Singapore, fled in fear of crime!