Chapter 248 Sudden Hearing
When I returned to the villa, I happened to see Qin Zi picking up letters in the mailbox outside the gate. After parking the car, Jing Jian smiled and asked, "Are you interested in being my dance partner at the weekend dance?"
Qin Zi looked at the email intently, not noticing Jing Jian's words. She has been caring about the email for the past few days, in fact, the verdict has come down, and Qin Zi has basically won the lawsuit, which is nothing more than waiting for the last court session to judge the specific amount of compensation for her ex-husband. According to Smith's estimates, it will never be less than $500,000. As for how much you can get in the end? cough cough, I guess it's not good. For this, Jing Jian paid a full $40,000 in legal fees. But seeing Qin Zi in high spirits, it was worth it.
"What are you asking, dancing?" Qin Zi asked absentmindedly.
"Uh" Jing Jian was going to ask later, looking at Qin Zi's state, he had completely devoted himself to the stack of letters, "Are there any letters?"
"Uh-huh. Have two pieces of advertising paper for your flower company. Unexpectedly, Qin Zi actually learned to joke, "Hey, there is a letter from you here." ”
Jing Jian took the letter and entered the house with Qin Zi. When he opened the letter with a smile, he immediately put away his smile and grabbed the phone: "Smith, there is something that the Securities and Exchange Commission asked me to attend a hearing and suspected me of illegal manipulation of Microsoft stock. ”
"Sir!" said Smith at once, "I'll be at your house at once." Don't tell anything about it until then. Don't worry, I'll be there soon!"
A day later, an office in the Los Angeles branch of the SEC. Jing Jian, Smith and a securities lawyer at Kaiwen Law Firm were questioned by several CSRC officials.
Presiding over the hearing was a member of the SFC named Dodd: "Mr. Jian"
"I'm sorry, sir. Jing Jian interrupted with a smile, "According to the Chinese custom, the surname comes first and the first name comes last, you can call me Mr. Jing." You can also call me Bramble. ”
"Okay! Bramble. Dodd's expression was very easy-going, "This is not a very serious hearing, but our SEC has received a report that we suspect you of illegal manipulation of Microsoft." Now I have a couple of questions. ”
"Excuse me, sir. ”
"Are you new to the U.S. and studying at ULCA?"
"Yes, sir. ”
"Is this your first time buying stock of a U.S. public company?"
"Yes, sir. ”
"So what are your reasons for choosing Microsoft?"
"I protest!" Smith protested without waiting for Jing Jian to answer. Obviously, this Mr. Dodd had bad intentions, although his expression was very kind, but every question brought Jing Jian into the ditch.
U.S. securities law has a very special policy - the principle of self-proof. That is, once the SFC suspects that you are illegally manipulating, you must come up with your own evidence and convince the SFC that you are not manipulating. Otherwise, you're manipulating! Yes, there is no proof that you are guilty!
This law is blood-spitting. For example, in the U.S. stock market, if you have never bought a stock, but suddenly buy a bull stock, make money in the short term, and then suddenly die down. Then you will basically be convicted, and you may be fined with interest. There is no need for evidence at all, and there is no need for witnesses at all. But the majority of retail investors who hate insider trading in China's stock market will definitely applaud this law, right?
However, the hearing is not a courtroom, and there is no "principle of silence", Jing Jian must answer the CSRC's inquiries, and Smith's protest just now is just a technique, a "certain warning" to the CSRC - don't go too far!
Therefore, after Smith finished protesting, Jing Jian smiled slightly: "Ladies and gentlemen, in June last year, that is, eight months ago, I only had more than $200,000 in cash with me. But I keenly calculated that gold would have a wave of upward movement, so I decisively went long, and earned more than $20 million in two months. Since then, my own account in Hong Kong, with the advice and operation of several excellent brokers, has earned as much as $15 million. And all of this has transaction documents that can be presented to you. ”
"After arriving in the United States, in addition to Microsoft, I also made no less than $6 million on other stocks, and all transactions were also documented. Thank you to those excellent investment advisors, but I myself, please forgive my pride, I am also a very good investor, an expert investor. ”
"As for why Microsoft? I'm sorry, but it's a trade secret involved. I can only tell you that this is not speculation, but a strategic investment. Most of the shares I hold now are restricted shares, so I will hold them for a long time. Here, I would also like to remind you, Mr. Kent, the general manager of White Lotus, that he has already disclosed the reason for the investment in the media, and if you are interested, you can find it for yourself. Thank you!"
Jing Jian's words were not leaky, and after finishing speaking, Smith nodded appreciatively at Jing Jian. Dodd was clearly prepared: "Can you tell me why you bought low and sold high in just a few days, trading frequently? Is this your strategic investment?"
"Mr. Dodd. He smiled at Dodd, "Don't you think that last trading day, Microsoft's stock was hovering around $40, but after only one trading day, the stock price rushed to $300, is this normal? As for buying at a low price, that is the consensus of my investment team that this price has strategic investment value. By the way, when such a situation arises, it is because Microsoft's equity is too concentrated. And you don't think about how to solve the problem of equity concentration and how to protect small and medium-sized investors, but you notice me as a victim, and I personally think that this behavior is quite puzzling. ”
Jing Jian took a bite back and pulled Bill Gates and Allen into the water. Anyway, it's to confuse the water and distract the fire on yourself.
Sure enough, Dodd shook his head with a smile: "Bramble, I want to remind you that although Microsoft's equity is quite concentrated, such an act is legal. ”
Jing Jianjian pointed out-for-tat: "All my operations are also below 5%, and there is no need to make an announcement, so how can I manipulate the stock price? My actions are also legal, how can I face you inexplicably?"
"Hehe, we're just hearings, not public accusations. Dodd explains with a smile, "We welcome investors from all over the world. But the necessary hearings are for the healthy development of the U.S. stock market and for the protection of every investor. ”
"I hope so!"