2014-06-23

Qingdao Port Scandal Grows: Multiple Court Cases; 9 Banks, 29 Companies Involved So Far; Money Went Into Real Estate Speculation

The Dezheng case just one among many now. Cases have been filed in Qingdao's courts involving more than 10 contracts, 9 banks and 29 companies. And that's only from June 16 to June 20. It's unclear where all the money has gone, but a lot of it likely went into real estate. One analyst said, in regard to Dezheng's real estate investments, that he was shocked at their complexity.

A Large Sum of Money Went Into Real Estate
Metal warehouse repeated pledges by some traders who draw the line Piandai have reached a pinnacle.

Germany is based metal trade finance Piandai case is not isolated cases, only the June 16 - 20, 2009, Qingdao had more than a dozen financial loan contract dispute trial involving nine banks, 29 companies.

The companies involved in the real estate business figure are frequent. Qingdao local private business owners, said real estate is the ultimate flow of huge amounts of money.

Chain directed at real estate

Last week in Qingdao City Intermediate People's Court dozen borrowing from financial disputes, the Bank involved in 5 cases. Qingdao held constant litigation objects include steel, Qingdao Huachu Investment Guarantee Corporation, Westport materials company in Qingdao, Qingdao Jie from materials trading company, Qingdao Sheng Ding estate companies. Arising from either the company's main business covers steel wholesale, investment guarantees, and export logistics and freight forwarding chain, real estate development.

Obviously, this is a complete financing chain. The money gone - the current lack of definitive data or information can be directly specified destination, but someone's company's operating business itself might be able to explain some problems.

In the five lawsuits cross the line, the real estate company Qingdao Sheng Ding estate companies were involved. Huachu large integrated commercial office building on Jiaozhou home built by Sheng Ding, and Huachu building project is also home dubbed Shengding name "Jiaozhou Qingdao Municipal Government and municipal key projects," said.

The other one real estate company in Qingdao Haikun estate companies figure also showed the meantime. Registered capital of 100 million, together with the shareholders of Qingdao, Qingdao home Haikun Lee Jun Ho Group, Qingdao Li Bo Hao Industrial Development Corporation, Loncin source Trading Company, constitute a chain of interest, banks are resorting to Qingdao courtroom. This chain, there are three companies involved in real estate development and leasing.

Notably Qingdao Haikun home may be just a case of its shareholders' funds strand breaks implicated in the case. In April, Lee Jun Ho actual control group due to funding strand breaks foot, Qiandai amount currently exposed by the media on more than 1.2 billion, involves at least three banks and a number of private lending companies and individuals.

Lee Jun Ho Group originally the main steel sales, after conversion to real estate development, and the development of four properties in Qingdao. Haikun home with Lee Jun Ho Group has the same legal representative - from late April on the female foot lost contact real estate tycoon Wang Li.

Germany is the Department came out on top

Germany is the main character in this series Qingdao Port metal trade finance Piandai event, the purpose is exactly the same with Lee Jun Ho Group - together with related companies are Piandai main business revolves around the metal started the final delivery points of interest are considered the industry real estate. But Germany is in the interests of access and delivery system on the pipeline is clearly better than Lee Jun Ho came out on top.

First, the protagonist of this Piandai Germany is one of the core members of the Department of Mining shareholders Tak-shing, is the property of Qingdao Jiaxin Investment Company Limited.

This is just the first step. A little further, Jenny home and Germany is also one of the owners of the Department of Keelung Chen (Chen Hung-based brothers) were invested 71.5 million yuan and 38.5 million yuan was set up in Qingdao bright future Investment Co., the main real estate development.

Germany is a bright future investment company based on the starting point, stretch with at least four real estate development company "bright future series." Chen also served as supervisor of Keelung in front of one of 程盛世 Fairview Landmark Limited.

In addition, the Department is also positive forces of Germany to "Jay positive line" Another main international trade and real estate investment penetration.

Business information, a bright future real estate development company legal representative Guo Cheng is two shareholders, "Jay positive line"'s Jie Cheng Trading Limited. "Jay positive line" core business - Jay are the registered capital of 300 million yuan investment, the main international trade, real estate and investment management, owns Jinan Seven Valley Tourism Development Co., Ltd. Jingjiang, Jiangsu comprehensive development of villages and towns, Ltd., Shandong Coastal Run City Properties Limited, a subsidiary of Qingdao-than-commerce Limited.

Seven main cultural property of Jinan Valley Tourism Development Co., Ltd. won the Seven Valley Cultural Jinan Forestry Industrial Park Project. According to the plan, the industrial park will be an area of ​​4.13 square kilometers, is expected to be completed within five years. But in fact, I do not know for what reason, the progress of the project without delay.

"Last year, just won the 400 acres of land, has not yet started." One staff member said seven valleys on the phone.

But the main residential real estate investments is encouraging positive Jie, a real estate investment projects in Jinan City "Jay positive Ridge apartment Square" has been basically sold out. The project named "Jay n - Mountain Mountain", the Securities Times reporter inquiries the sales office was informed that the estate mainly in 36 square meters to 75 square meters of mainly small apartment, has been basically sold out. Statistics show that the real estate area of ​​15,456 square meters, belongs to the small estate in Jinan.

In this regard, analysts said Germany is the Department of Real Estate layout intricate architecture amazing.

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