Ac­cu­sa­tions by fugi­tive Guo re­jected

China Daily (Hong Kong) - - CHINA -

Guo Wen­gui, one of China’s most-wanted fugi­tives, used fab­ri­cated and dis­torted in­for­ma­tion to mis­lead the pub­lic and at­tack the rep­u­ta­tion of a com­pany man­ager.

Yao Qing, gen­eral man­ager of GI Tech­nolo­gies (Bei­jing), who was the tar­get of ac­cu­sa­tions, strongly ob­jected to claims made by Guo through over­seas media out­lets and on­line video plat­forms.

“Guo’s fab­ri­cated claims have brought neg­a­tive im­pacts to me, my fam­ily, friends and com­pany. It’s nec­es­sary to make this known to the pub­lic, and we re­serve the right to use le­gal means to hold Guo ac­count­able,” Yao said.

“Guo’s fab­ri­ca­tions and vi­cious words have greatly im­pacted my rep­u­ta­tion, as well as that of the com­pany, ex­ec­u­tives and em­ploy­ers, and I ex­press my strong out­rage.”

Guo claimed that Yao was a rel­a­tive of a se­nior Chi­nese of­fi­cial and con­trolled more than 10 com­pa­nies, had bank ac­counts in other coun­tries and held more than $160 bil­lion in cash. He also claimed Yao was a prin­ci­pal in a bank and an oil com­pany.

Guo, who was sus­pected of mul­ti­ple crimes, fled China in Au­gust 2014 and is cur­rently the sub­ject of an In­ter­pol “red no­tice” for wanted fugi­tives.

In China, he was the con­trol­ling share­holder of Bei­jing Pangu In­vest­ment and Bei­jing Zenith Holdings.

A state­ment by GI Tech­nolo­gies in Oc­to­ber in­tro­duc­ing Yao when he was named gen­eral man­ager of the com­pany noted that he was born in 1977, holds Chi­nese na­tion­al­ity and grad­u­ated from East China Uni­ver­sity of Political Sci­ence and Law.

Yao said he had lived in ru­ral ar­eas of Shang­hai’s Nan­hui district, now known as Pudong New Area, un­til 1996, when he went to study law. Af­ter grad­u­a­tion, Yao was em­ployed by a pri­vate en­ter­prise in Shang­hai.

Yao’s bi­o­graph­i­cal in­for­ma­tion was con­firmed by Li Yan, an em­ployee of GI Tech­nolo­gies, who stud­ied at the same high school as Yao.

“Yao is from Shang­hai. We know his back­ground, and he has noth­ing to do with se­nior lead­ers or huge as­sets. What Guo said about him is ridicu­lous,” Li said.

Yao es­tab­lished a Shang­haibased credit risk con­sult­ing firm called We­icheng in 2004. He be­gan work­ing in the as­set man­age­ment in­dus­try in 2007.

Gao Huaixue, the con­trol­ling share­holder of GI Tech­nolo­gies, said her com­pany started work­ing in non­per­form­ing as­set man­age­ment in re­cent years, and en­gaged Yao as a pro­fes­sional man­ager.

Guo, the fugi­tive, al­leged that Yao held con­trol­ling shares in more than 10 com­pa­nies. But Yao said the com­pa­nies sim­ply had busi­ness re­la­tion­ships with GI Tech­nolo­gies.

One of those com­pa­nies, which was en­gaged in fos­sil fuel engi­neer­ing tech­nol­ogy, was ac­quired by GI Tech­nolo­gies in 2015 and merged with an­other com­pany in 2016. How­ever, the new com­pany failed to de­liver, and co­op­er­a­tion was ended at the end of last year, Yao said. The new com­pany was closed ear­lier this year.

“In Guo’s logic, com­pa­nies that have busi­ness with me ac­tu­ally be­long to me, to­gether with all their as­sets. Thus, my as­sets will be un­lim­ited. Such logic is ab­surd,” Yao said.

Guo claimed that Yao “turned State-owned en­ter­prises into his own” through his work deal­ing with non­per­form­ing as­sets. But Yao said that wasn’t true.

“Our com­pany dealt with non­per­form­ing as­sets mainly in pri­vate en­ter­prises and

helped them be­come prof­itable through mea­sures in­clud­ing ac­qui­si­tion and as­set re­con­fig­u­ra­tion,” Yao said. “There are no grounds for any claims of em­bez­zling State as­sets.”

Ac­cord­ing to Gao, the ma­jor share­holder of GI Tech­nolo­gies, “Yao has no shares in the listed com­pany. Share­holder in­for­ma­tion is pub­li­cized on­line by law,” she said. “I am the con­trol­ling share­holder of the com­pany, and my shares are my own, not Yao’s.”

Ac­cord­ing to the Chi­nese po­lice, Guo’s list of al­leged re­la­tion­ships was fab­ri­cated by Chen Xiang jun, 43, from Leizhou, Guang­dong prov­ince. Guo al­legedly paid Chen 50,000 yuan ($7,420) to pro­vide him with fake busi­ness data.

Po­lice said Chen con­fessed that he had orig­i­nally cre­ated the so-called re­la­tion­ship tree and that he only dis­cov­ered later that Yao was an em­ployee of the com­pany with no shares.

GI Tech­nolo­gies’ Gao said that “if the com­pany has suf­fered from Guo’s ru­mors, we will not rule out le­gal ac­tion to safe­guard our rights”.

If the com­pany has suf­fered from Guo’s ru­mors, we will not rule out le­gal ac­tion to safe­guard our rights.” Gao Huaixue, the con­trol­ling share­holder of GI Tech­nolo­gies

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