The Assistant to the General Manager of the National Cotton Exchange Market receives a bribe and causes a national loss of 7 million

Mr. Jin, who was once the assistant to the general manager of the cotton trading market and the manager of the warehouse management department, and two subordinates, after receiving the bribes, helped the unqualified warehouse to obtain the national cotton trading market for eligibility and neglected the inspection, resulting in the existence of the warehouse. A large amount of cotton in the country was taken away by private means and the country lost 7 million yuan. The reporter learned yesterday that the Xicheng Court sentenced Kim to 5 years’ imprisonment for taking bribes, 2 years’ imprisonment for dereliction of duty, and 6 years’ imprisonment for merger. Others involved were also sentenced.

Inspection report ignores doubt

According to the prosecutor, an important function of the national cotton trading market is to collect and store cotton from cotton traders and use these cotton as collateral to provide them with assistance and help the cotton traders. Based on business needs, the trading market has established a number of designated delivery warehouses nationwide. These warehouses can collect warehouse rental and other expenses.

In order to become a designated delivery warehouse for cotton, it needs to be approved by the cotton trading market. Kim, who was the assistant to the general manager of the cotton trading market and the manager of the warehouse management department, was responsible for the approval of the warehouse.

In 2007, Quanta Library, a designated delivery warehouse for the cotton trading market, was disqualified by the cotton trading market for irregularities. Quanta Kufa representative Han will sell the warehouse to his friend Pang Mou. In September 2007, Pang Mou, who bought the cotton warehouse, renamed the warehouse as Jinyuyuan and registered with the industry and commerce department, and began to apply to the cotton trading market to become the designated delivery warehouse for the trading market.

Due to his previous work, Kim met Pang Mou as early as 2005. He also learned that Pang Mou and Han Mou were very good friends. However, he did not report to the leadership during the approval process, but instead sent him to cotton at the time. Wang, a deputy manager of the warehouse management department of the trading market, visited Jin Yuyuan in the field. During his inspection, Wang discovered that Jinyuyuan was the Quanta library that was canceled by the cotton trading market and had qualified for the delivery warehouse, and told Kim about this situation. At this point, Kim said the warehouse had been sold to Pangmou, and Han does not have a relationship. In order to qualify for the designated delivery warehouse of the Jinyuyuan Library, Pang Mouzhen entered Wang’s wife’s account with 300,000 yuan. However, Wang did not write in the inspection report issued to the cotton market. . In October 2007, Jinyuyuanku became the designated delivery warehouse for the cotton trading market. Afterwards, Pangmou also gave Kim a fee of 10,000 yuan.

Lax inspection of cotton "missing"

In August 2008, the legal representative of Tianfeng Company Qimou pledged RMB 25 million for 35 batches of cotton in the Jinyuyuan Bank and 14 batches of cotton in other warehouses. Kim knew that Qi Mou was the wife of former warehouse owner Han Mou, and was familiar with the current warehouse owner, Pang Mou, and still agreed to Qi Mou’s pledge application. At this time, out of the 35 batches of cotton that Qimou had pledged to the cotton market in the bank, 19 batches of cotton were illegally exported. In December 2008, when the cotton trading market conducted a verification of the Jinyuyuan Library, 35 batches of cotton pledged by Tianfeng Company had all been illegally exported, and some of them had been sold. The final cotton trading market suffered a loss of more than 700 million yuan.

According to the prosecutor's briefing, according to the management regulations of the national cotton trading market, the warehouse management department where Kim is located should go to the designated delivery warehouse every quarter for inspection, and whether or not the nuclear cotton that is actually pledged to the cotton market is in the warehouse. However, Jin, Wang, and Yan, who worked in the warehouse management department of the cotton trading market, did not perform careful verification in accordance with the regulations during the verification of the Jinyuyuan, and did not perform the supervision duties on the pledged cotton.

â–  Glossary

The National Cotton Trade Market was established in 1998 with the approval of the State Council and was contracted by the All-China Federation of Supply and Marketing Cooperatives. As of now, the total number of traders entering the market was nearly 3,000, which created a precedent for the transfer of reserve materials from the planned distribution to the use of market mechanisms to allocate resources. As a policy cotton reserve, the macroeconomic control of cotton prices, but also for commercial cotton trading warehousing, ** and other services.