The chairman of the board of directors laundered money, the CEO embezzled public funds, fund partners asked for dark shares, the equity holding was empty, and high-quality companies encountered Wall Street-style fraud...... If you come out to mix, you will have to pay it back sooner or later.

1. The East Window Incident

When the Qianfeng East Window incident occurred, Qin Fangyuan went to Sanya, Hainan to hang out. He soaked in the shallow sea directly opposite the David Legend Hotel in Sanya Bay, looking at the blue sky and emptying his mind.

Qin Fangyuan plans to take a break for half a year before looking for a job, whether in China or back on Wall Street. According to his contract with Mingming Media, he voluntarily resigned with a six-month non-compete period.

Qin Fangyuan returned to the shore from the sea and saw that there were 9 missed calls, 7 of which were from Shi Wenqing, and he called back. "Qian Feng had an accident, it was Zhou Yicai involved, and everyone in the circle knew about it, and the investment company was discussing how to deal with it. Shi Wenqing said, "Hurry back to Beijing, don't wander alone in Sanya, your classmates are burning your eyebrows!"

After experiencing this twist and turn, Qin Fangyuan has been tempered into steel, and he feels that his mentality has suddenly reached the age of not being confused. He said indifferently: "Don't panic, as long as it's not life-threatening, what are you afraid of, the sky won't fall." When I go back to the hotel, I will call you back with a landline, and the roaming fee in China is not cheap!"

Shi Wenqing wanted to scold as soon as he heard this, but the scolding came to his mouth and swallowed it back again: "Don't say that Qian Feng is our old classmate and brother for many years, this matter also involves Hu Xiaolei's happiness, you just hang up like this? I don't bother to tell you." After saying that, he really hung up the phone.

At this moment, Qin Fangyuan was a little anxious. What the hell happened? Listening to Shi Wenqing's tone, it didn't seem to be simple, it wasn't the grievances of a few people, could it be that he couldn't forget that the Media Building was about to collapse? Thinking of this, Qin Fangyuan broke out in a cold sweat. He ran back to the hotel, called around, just practiced a little kung fu, disguised himself as a village girl and an old man, and was beaten back to his original form in three or two strokes, restored to a white bone spirit.

Things figured out a rough idea.

Since Tom jumped ship, I can't forget that the bad luck of the media has happened one after another. Before Tom jumped ship, Qian Feng's fund invested $60 million as the third round of main investment, which was the largest investment in outdoor media at that time. However, Zhoumen was unfortunate that the competitor Hainan Huatian Media was the first to be successfully listed on the NASDAQ, which was called a miracle by the media, which basically announced that the listing opportunity of the second media with the same concept was narrowed, and the time was extended.

On the one hand, we will start the NASDAQ listing agenda, and on the other hand, we will start to prepare for the search for third-party financing once the listing is not successful, and we will not be able to die on the road.

Qian Feng once asked Qin Fangyuan to consult about the listing of the NASDAQ, but Qin Fangyuan had not yet come out of Mingming Media at that time.

Qian Feng said: "When will your listing start? Is there any hope?"

Qin Fangyuan said: "It's still advancing. ”

Qian Feng was not happy: "Between old classmates, is it necessary to be so secretive? I am sincere in communicating with you, if there is a play, you will stay in a down-to-earth manner; if there is no play, I suggest you come over." I can't forget that the media will start the listing agenda immediately, whether it is a professional manager or want to make a fortune, it is a good opportunity. ”

"What are you kidding, most of the year ago, we never forgot that the media poached people, and now we actually let me go, isn't it a big joke? That is impossible!" Qin Fangyuan directly said no, he asked casually, "Where are you going to go public?"

According to the information he obtained from the industry, he could not forget that the performance of the media was not much better than that of the Mingming Media, so how could he be about to go public? However, he got another confirmation from the rapid listing of Huatian Media in Hainan that such miracles happen every day in the motherland. Therefore, he became interested again: "How?"

Qian Feng said: "Financial indicators are not a problem. Aren't you from a Wall Street investment bank? I happen to have some questions for you. What is the listing process of the NASDAQ gem?"

These are of course Qin Fangyuan's housekeeping skills, in China, in addition to the few brokerages and law firms that help operate the listing, there are not many people who really know the NASDAQ, and Qin Fangyuan can be regarded as the number one. Qian Feng asked about this topic, and Qin Fangyuan came to the spirit, he enjoyed the glory of this kind of preacher very much.

Qin Fangyuan said: "I have to correct your understanding, the NASDAQ is not the GEM, it also belongs to the main board, and it is not the same concept as the GEM of the Shenzhen Stock Exchange in China. Yes, this is a major misunderstanding. First of all, it is necessary to clarify the two concepts of the main board and the GEM. In the United States, the main board market has three major characteristics: first, it is subject to the supervision of the highest regulatory level in the United States, mainly Congress and the US Securities and Exchange Commission; second, the listed companies must bear the relevant legal responsibilities and obligations of the main board market; third, all institutional investors can enter the market and trade without restrictions. In contrast, the U.S. Growth Enterprise Market (GEM) has a lower level of regulation, different legal liabilities, and not all institutional investors can enter. Measured by the concept and standards of the main board market, the NASDAQ is the most dominant main board market in the United States.

"The NASDAQ is now the world's largest stock exchange, and it covers a wide range of industries, not just technology stocks. About 24% of the companies listed on the NASDAQ are technology companies, 22% are companies in the financial sector, 17% are in the consumer sector, 15% are in the healthcare sector, and the rest are industrial, energy, materials and other industries. In terms of both the number of shares traded and the amount of cash traded, the NASDAQ is the world's largest and most liquid single market. Nasdaq now accounts for two of the top three companies by market capitalization in the United States – Apple in first place and Microsoft in third place. ”

"Hehe, okay, I'm a turtle, and I've taught me another lesson. Qian Feng looked at Qin Fangyuan, who was chatting passionately about business, took a sip of tea, and thought to himself that the free MBA class was not in vain, "The listing conditions of the NASDAQ are much lower than those of the New York Stock Exchange, right?"

"Haha, you must have been deceived by a bunch of fake foreign devils, if this person is from Wall Street, he will definitely not instill this concept in you. This is yet another issue that needs to be corrected by the common misconceptions. The fact is that the listing conditions of the NASDAQ's highest-tier Global Select Market are now higher than those of the NYSE's highest-tier market, Big Boa

D's listing conditions are even higher, about 10% higher for each indicator.

"The entire main board market of the Nasdaq is divided into three levels: the highest level is the Nasdaq Global Select Market (NGS), which is the highest IPO standard in the world, the second level is the Nasdaq Global Market (NGM), which is upgraded from the previous Nasdaq national market, and the third is the Nasdaq Capital Market (NCM), formerly known as the Nasdaq Small Capital Market. The three levels are designed to better meet the listing needs of large, medium and small companies. Within the three market tiers of the NASDAQ, low-tier companies can rise to the high-tier market as long as they meet the relevant conditions, such as market capitalization, stock price, liquidity, finance, etc., and similarly, companies with poor performance in the high-tier market will also be automatically downgraded.

"The NYSE's Main Board market in the U.S. is made up of two tiers, the Big Boa in the traditional sense

d and AMEX small board market. Comparing the listing conditions of the two companies, the listing conditions of the Nasdaq's highest sector Global Select Market are basically higher than those of the New York Stock Exchange

d 10% higher. The stock price requirements of the NASDAQ's lowest sector, the capital market board, are higher than those of the NYSE AMEX, and other financial and other conditions are basically the same. ”

"Okay, you're a Wall Street expert, so don't laugh at me. If you get on the NASDAQ, how fast is the fastest?" Qian Feng was more concerned about this.

"To be listed on the NASDAQ, it can be completed in 4~6 months if it is fast, and 8~10 months if it is slow. In terms of specific costs, different companies hire different accounting firms and law firms, and the fees will vary. As an exchange, the NASDAQ does not charge many fees, mainly including initial listing fees and post-listing annual fees, and the total fees are lower than those of the NYSE. The listing fee is about $100,000, with an average annual fee of $35,000 and a cap of $50,000.

In fact, it mainly comes from five aspects: one is the transaction fee, when investors buy and sell stocks, the Nasdaq will make money, the second is to provide transaction data, market data, index data, etc., and the institutions that buy the data need to pay the relevant fees to the NASDAQ; the third is to charge transaction technology fees, Trading system authorization fees and consulting fees; fourth, the release of NASDAQ indexes, through cooperation with funds to make money; fifth, listed companies listing fees and annual fees. Under normal circumstances, the NASDAQ loses money on the project of listing the company. ”

"If a Chinese company wants to go public on the NASDAQ, what processes does it generally have to go through?" Qian Feng behaved very studious that day, which surprised Qin Fangyuan.

Qin Fangyuan asked the waiter to take a pen and paper, and he wrote and drew on the paper: "The company to be listed can first hold a kick-off meeting to go public in the United States, and invite major institutions - investment banks, law firms, accounting firms, etc., to meet with them, so that they can understand the company's finance, operation, management structure, etc., and conduct preliminary negotiations on the project." If the company to be listed does not want to alarm so many institutions at the beginning, it can also invite an accounting firm to conduct a financial audit to understand whether the company's financial situation can meet the relevant listing conditions.

"After the first step, partners such as investment banks begin due diligence, prepare listing materials, and write prospectuses. The prospectus will then be submitted to the SEC (Securities and Exchange Commission) for filing, and the declaration usually has 4~5 rounds (declaration - amendment), until there is no problem, you can start the public declaration of listing, that is, the public prospectus and other materials. At the time of public filing, the company can decide which exchange to list on.

"Next is the pre-IPO roadshow, where listed company executives and underwriting investment banks need to pre-sell shares to interested potential institutional investors. Finally, the issue price is determined, the exchange is listed and the bell is ringed, and it becomes a public company in the capital market.

"In addition, listing in the U.S. also requires preparation in advance in terms of legal structure, which is currently mainly used in VIE structure, and having a VIE structure means that the company is more legally transparent and credible. ”

Qian Feng sighed: "Don't look at how much money we made, compared to you, the gold content is too different." A turtle is a turtle, and a turtle is a turtle, dwarfed by that!"

After that meeting, Qian Feng disappeared. Qin Fangyuan still learned from his peers that he couldn't forget that the media strongly promoted the listing on the NASDAQ, and some financial websites began to let out the wind. Qin Fangyuan paid more attention to this case to see how they dressed up the ugly duckling as a golden phoenix, but he didn't expect to see the news of the accounting firm's withdrawal from the audit on the plane that time, which was too big a blow.

The twists and turns of things were beyond Qin Fangyuan's imagination. The withdrawal of the accounting firm surprised Qian Feng's Dutch Haidao Fund, and they asked the firm to explain. The firm's explanation is that it is difficult to sort out the accounts in a short period of time and cannot meet the requirements of your company in time, and in view of the urgent request for listing on the board of directors of the company, we would appreciate your understanding and please ask for an audit.

The LPs of the Dutch Sea Road Fund are foreigners, and the GPs are foreigners and Chinese, and they are puzzled by the accounting firm's explanation. Because I couldn't forget that the media held a board meeting, Qian Feng, as one of the directors, conveyed the consensus of the board of directors that the company could meet the listing conditions and decided to launch the rapid listing agenda. This gave them a reassurance, after all, they entered at a high premium.

What revealed the shocking story was an internal real-name report letter, and the whistleblower couldn't forget Zhou Haiyang, the financial director of the media.

The whistleblower letter revealed that in just a few months, it is impossible to forget that the media actually lost more than 80 million yuan under the country's strict foreign exchange control.

The contents of the whistleblower letter are extremely detailed, including the details of current accounts over a period of time, and the roadmap of related party transactions of several subsidiaries within the company, which is shocking. Obviously, if it weren't for the person who had the core transaction secrets, he would definitely not have been able to produce such detailed information about the report.

After meeting with several VCs and PEs, they agreed that they should resolutely investigate, and the more carefully they checked, the better. On the one hand, no one wants to be wronged because the money they invested is laundered, and on the other hand, they are worried that negative comments from the outside world will affect the next round of financing.

Due to the detailed reporting materials, the hired agency basically found out in half a month, and Zhou Yicai and others used the means of left and right hands to wash away more than 80 million yuan, which proved that more than 90% of the report letter was true.

Based on the problematic accounts identified, the VCs found that this was a typical left-handed to right-handed money laundering game. Zhou Yicai registered a number of companies in the name of relatives and friends, and the company had a business relationship with Forget the Technology, which was an offshore company registered in the British Cayman Islands by the investor and Zhou Yicai, and it controlled the media through an agreement.

It is impossible to forget that although Technology is registered in the Cayman Islands, all employees are engaged in the Mainland's office and daily business. I can't forget that Technology has registered several business-related wholly-owned subsidiaries in China, such as the procurement company that purchases LCD screens, and the purchasing company purchases goods from another company controlled by Zhou Yicai. I can't forget that the advertisements of technology are also placed through Zhou Yicai's advertising agency, and the real estate company controlled by Zhou Yicai is also responsible for the management of the use of materials, and so on. There are related party transactions between several companies, which is very boring.

For example, if the LCD screen is purchased by a company controlled by Zhou Yicai personally, and then sold to a purchasing company that can't be forgotten, if the procurement cost is 6% off, the internal related party transaction can be 80% off, and the intermediate profit belongs to Zhou Yicai's personal purchasing company; In addition to advertising, the advertising company also signed a sales agency with Forgetful Media to sell advertising space to generate benefits. In this way, within three months, despite being subject to the state's strict foreign exchange control, more than 80 million yuan was forcibly washed away through various means in the name of paying for goods and expenses.

In this way, even if the Dutch Sea Road Fund withdraws, there is no money to return, they consult the State Administration of Foreign Exchange, and friends from the State Administration of Foreign Exchange say that they will not interfere in the withdrawal of shares, but it is more difficult to convert RMB into US dollars, and the control is very strict. At the same time, he reminded that if foreign capital withdraws its shares, it will also involve other management departments.

They consulted legal counsel and reported to the headquarters, after all, the matter has developed to such a point, and it is impossible to conceal it.

The headquarters authorized the Chinese company to handle the matter with full authority, and the Chinese company asked Qian Feng to clean up the mess. When Qian Feng accepted this authorization, he was very worried, and once called Qin Fangyuan one night, but Qin Fangyuan turned off the phone. He originally wanted to call Shi Wenqing, but what could he say if he got through? He knew that Shi Wenqing was righteous enough, but he was a big mouth, and he didn't know if he could talk to him in his heart. Eventually, he gave up.

The VCs gathered in Beijing for an important meeting, which lasted from morning to 9 p.m. The VCs were all gray-faced, and initially said that they were going to start the NASDAQ listing quickly, but the listing was not successful, and the shady scene was suddenly exposed, which was simply a roller coaster, and no matter how experienced people were, they couldn't withstand this kind of blow. The main discussion of the meeting was what to do next for the media and where to go in the future. These issues were discussed for a long time, and they were also debated for a long time, and even there was a struggle for control, and those who contributed more money did not necessarily have a high share ratio, after all, they came in at different times, but they reached a consensus on the handling of Zhou Yicai.

The VCs authorized Qian Feng to talk to Zhou Yicai, and Qian Feng resisted at first, but their GP boss said that this project was largely based on your information and confidence investment, and you have worked together on the board for more than a year, of course it should be handled by you.

Qian Feng got two solutions: one is that the funds all withdraw their shares, even if they are converted into RMB, they will accept it, but the company has no money in its books, and this road is not working. The second is that someone in the company must be held accountable for money laundering, and the chairman of the board of directors is a matter of course. Either the chairman of the board of directors will give up all his shares and leave the country, and the 80 million yuan he has laundered will not be investigated; or he will report to the judicial organs and be imprisoned for the crime of embezzlement of company funds or embezzlement of duties.

Since the matter was revealed, Zhou Yicai has quickly lost weight, he has been a prosecutor before, and he knows what it means to be found out about money laundering. Largely without thinking about it, he agreed to walk away. He calculated very clearly, if he didn't agree, the foundation would let him enter the bureau, not only would he suffer imprisonment, but he would also spit out the 80 million yuan.

Qian Feng went in to negotiate for less than 10 minutes, and Zhou Yicai signed the solution, and then silently packed up his personal belongings and walked out of the company's gate. Qian Feng said that Zhou Yicai seemed to be suddenly old, and when he shook hands with Qian Feng, his eyes were a little red. After all, this company was built by him single-handedly. In fact, Zhou Yicai had no intention of laundering money, but since the company's successive events such as senior executives jumping jobs and competitors going public in a flash, he gradually couldn't see the company's development direction, couldn't see the prospects, and felt disheartened, so he moved the idea of money laundering.

Zhou Yicai just couldn't figure out why the chief financial officer sued him? Whether it was salary or bonus, Zhou Yicai took care of him and gave him options worth 600,000 yuan, which was higher than any other employee at the non-shareholder level.

After Zhou Yicai withdrew, the company reintegrated the management and hired a president from **, and the financial director also came from**. In view of the peaceful handling of the matter, Zhou Haiyang and Zhou Haiyang also had a meritorious performance in reporting, the company no longer pursued legal responsibility, but only dismissed.

Lust for a lifetime, lose all the games, and there is no winner.

Back in Beijing, Qin Fangyuan called Qian Feng and turned off his mobile phone. He called Shi Wenqing, and Shi Wenqing said that he could not be contacted, and he heard from his company that Qian Feng had resigned from the Dutch Sea Road Fund.

Qin Fangyuan said: "Is it a lot of psychological pressure? Besides, who dares to say that investing in a company can guarantee 100% success? He is a VC background, so he should understand. ”

Shi Wenqing said: "As far as I know, things are not so simple. ”

Qin Fangyuan asked again and again, Shi Wenqing said that there was nothing verified, and it was related to the reputation of his classmates, so it was better not to say it, so Qin Fangyuan gave up.

However, he couldn't let go of Hu Xiaolei. Zhou Yicai was deprived of his shares, where would he go next? What would he do? How is Hu Xiaolei now?

Thinking of Hu Xiaolei, he called her to say hello, love is not in friendship, after all, it is an old classmate. Hu Xiaolei's mobile phone was also turned off.

Qin Fangyuan found the landline number of her newspaper through Zhang Karen and called, and a man picked it up, saying that she hadn't been here for some days recently, and she had taken a long vacation, as if she had returned to her mother-in-law's house in Haikou.

Qin Fangyuan's hanging heart calmed down.

2. Come out and mix, sooner or later you will have to pay it back

It's like a dream. In the more than a month since Qin Fangyuan came out of Mingming Media, the state of the authorities' confusion has gradually dissolved, and it is his former colleagues who have helped to dispel it. It's like a matryoshka doll, taking out one after another, and the thrilling puzzle is peeled back layer by layer, which is shocking. When the tide receded, the idealistic beach castle that had been built with all its might collapsed in an instant.

Former CFO Li Dong asked him to have tea, still in Nanluoguxiang. Why do people like this place? First, it has been opened up into a base for foreign friends to play in recent years, and some of the charm of the ancient city of Beijing has been preserved; second, this is the location of the Central Academy of Drama, sitting by the window, sipping tea, admiring the groups of beautiful women, coming and going, which is very eye-catching.

Li Dong also applied for withdrawal after the board incident.

"I wanted to withdraw for a long time, if it wasn't for Lao Yan, who could stay. After the completion of the B round of financing, Zhang Jiahong regarded Lao Yan as his own person, and happily agreed to the CFO recommended by Lao Yan. At this time, Qin Fangyuan really understood why he didn't get his wish for the position of CFO, and he had been unhappy that Zhang Jiahong crossed the river and demolished the bridge, and it turned out that Lao Yan was also one of the blockers.

Qin Fangyuan still wondered: Since Li Dong was recommended by Lao Yan, and in the incident of acquiring Focus Media, it was Li Dong and Zhang Jiahong who participated in the signing of the contract, if there was a conspiracy, did Li Dong not report to Lao Yan, and could Li Dong get out of the way? Moreover, why did the VCs rush to Qin Fangyuan with the question of the high-premium acquisition? Li Dong is the one in the know.

"Why did you want to withdraw a long time ago? At the mid-year meeting, didn't you have a word about the company's future prospects?" Qin Fang asked puzzled.

"It's for show. There are so many people, all regional managers and department directors are there, and they can only cheer up and not be discouraged. Li Dong snorted Tie Guanyin, and his tone became resentful, "At the beginning, the authorization made by the board of directors was that I signed for expenses below 20,000 yuan, and the CEO signed for more than 20,000 yuan. The key issue is not here, Zhang Jiahong embezzled 5 million yuan to wholesale a batch of Hetian jade from Xinjiang, in the name of his other company, I don't know at all. ”

"How can there be such a thing? That's embezzlement. ”

"yes, it's serious, and she's bold enough. No, that afternoon of the board of directors, they were busy collecting the financial accounts and corporate seals, just because they were afraid that this matter would be exposed, and once the evidence was caught by the VC, she would not escape the blame. ”

"You didn't sign it, how do you know?"

"How can there be an impermeable wall in this matter?"

Qin Fangyuan suddenly thought of a person, Yu Na, who has the same name as the famous model, is the cashier of the finance department, and has followed Zhang Jiahong for many years. But Zhang Jiahong probably didn't expect that Yu Na was in love with the handsome guy Li Dong.

Qin Fangyuan suddenly realized: "Embezzlement of public funds is her own business, what are you depressed about?"

Li Dong looked at Qin Fangyuan, thoughtful, and stopped talking: "That is the land of right and wrong, leave early and be relieved." ”

Qin Fangyuan actually understood the meaning of Li Dong's desire to speak and stop. In the matter of the acquisition of Focus Media, Li Dong and Zhang Jiahong had close contacts, avoiding Qin Fangyuan's secret meeting with Mr. Yang many times, and as time went by, some truths gradually surfaced.

After that conversation with Li Dong, Qin Fangyuan felt more and more panicked in his heart, because the things that surfaced destroyed the values he had established on Wall Street, and even the most basic principles of life.

The first to surprise him was Tom. Tom's dismissal of Zhang Jiahong was deliberate, and the news was told to Qin Fangyuan by Wu Ping, director of the northern region of the operation and development department.

Wu Ping was fired by Zhang Jiahong more than a month before Tom, and the reason for the dismissal was that Tom's big customer, a hemorrhoid medicine factory in Shijiazhuang, was very dissatisfied because of the large number of black screens. According to the agreement, a black screen rate of more than 5% is a breach of contract and the advertising money should be returned.

This incident is a report written by Tom, and he also organized people to go to the bathroom of the office building to take photos, one by one, according to statistics, the black screen rate in Beijing alone exceeded 20%.

Tom took the report at the business meeting and said: "Such a high black screen rate is intolerable for the customer, the other party wants to recover all the advertising money, what should I do? I have done a lot of work, and the customer agreed to return only 3 million yuan." Comrades, what a loss!"

Zhang Jiahong listened to the smile: "We have to bear the loss of 3 million, one is to maintain customers, and the other is to be honest." Tom was responsible and reduced the damage, but this matter cannot be left alone, someone has to take responsibility. She pointed to Wu Ping who was present and said, "You come up with a plan and punish it in place." ”

After the meeting, Wu Ping made a decision to deduct his one-month bonus and then take the initiative to resign.

Wu Ping is also the one who fights the country with Zhang Jiahong. Zhang Jiahong signed the resignation application, agreed to resign, and was given a bonus and salary, and was compensated for three months' salary.

Qin Fangyuan once applauded Zhang Jiahong's generosity and human touch, but Wu Ping snorted and said, "This article is big." Do you know why you agreed to my resignation so happily? Why didn't you deduct my bonus and compensate me? Is there really such a good boss in the world?"

Qin Fangyuan looked at him with a bitter and hateful look, and was happy: "You made a mistake and took the initiative to resign, and the compensation for three months' salary is already good." ”

"Huh, that's not bad? Do you know anything about her?"

"Oh, what's the matter with her?"

"Do you know what I was in charge of before development?

"Yes, you were in charge of LCD screen procurement, but you were transferred out not long after. ”

"That's where it happened. Do you know why the company has more than 100 million less cash in its books all of a sudden?"

Qin Fangyuan was surprised and shook his head.

"Our LCD screen is a full cash purchase, the price is 200 yuan higher than the market price per unit, a cash purchase of 130 million yuan, a one-time payment, what is the difference?"

"I know about this, didn't I say that Zhongguancun is a parallel import, and the screen we purchased is customized by a Haifeng manufacturer?"

"It's basically the same. Who doesn't understand what they do? Who doesn't know how to calculate the cost?"

At this moment, Qin Fangyuan woke up, it turned out that the mystery was here.

Wu Ping regarded Qin Fangyuan as a literati, a decent intellectual, and trustworthy.

"Tom isn't a good bird either, and there's a lot of stuff in it. Tom thought he did it perfectly, but paper can't contain fire, don't think I don't know. Then, he looked up into the distance and let out a long breath, "People are doing it, and the sky is watching." He has cut off my job, and sooner or later he will have a bad day. Then, he turned his head to Qin Fangyuan and said, "Mr. Qin, there is a very popular saying in China: if you come out to mix, you will have to pay it back sooner or later." With that, he smiled secretly.

3. It's not that you don't report it, the time has not come

Bearing in mind that the media financing incident is gradually fermenting, this is in line with the sentence: it's not that you don't report it, the time has not come. Huaxia Zhongding Investment Group and Shi Wenqing, the person in charge of the specific project, who personally benefited a lot from this financing incident, did not last long, and the VCs came to the door to discuss the explanation.

The problem lies in the project plan and financial forecast made by Shi Wenqing, and the situation of digital water injection is focused on, and VCs come to the door to claim compensation.

Hong Dakai, a partner of Dadao Investment, who co-invested with him, was affected by the media incident and made several reviews at the internal meetings of his unit. Although investment is risky, it is a nightmare for a project that was once highly anticipated to fall into a situation where it cannot be continued just one year after the investment. Remembering that media was the first project in which Hong Dakai was promoted to partner investment, he once dreamed of relying on this project to open up a good situation and enhance his prestige within the fund, but he did not expect to become a joke in the industry, which made Hong Dakai very annoyed. Naturally, the first thing he wanted to discuss was the intermediary Huaxia Zhongding.

That morning, Hong Dakai rushed upstairs directly, no matter how the front desk lady shouted, and ran straight to Shi Wenqing's office. That day, the executives of Huaxia Zhongding were all in the company, and Li Hong was just about to go out, when he heard Hong Dakai shouting loudly that Shi Wenqing was running over. Li Hong was going to come out to interfere, but as soon as he opened a crack in the door, he saw Hong Dakai rushing past his door and rushing towards Shi Wenqing's office. Li Hong saw that the situation was a little bad, so he quietly locked the door and slipped away.

Shi Wenqing was surprised by Hong Dakai's arrival, although the two sides had close contacts when he was a financial consultant for Mingji Media a year ago, and later there were several business cooperations. When Hong Dakai rushed in, Shi Wenqing was still flirting with a famous female host of Southern Satellite TV on MSN.

Hong Dakai said: "I came today to ask for an explanation, why did you deceive us when you raised funds? Just for your little commission? Do you know how big our losses are in this way?"

Shi Wenqing knew what it meant as soon as he heard it. Bearing in mind that the media financing project made him both famous and rich, and then the situation took a turn for the worse, and he was also criticized by the industry, especially investors, he was mentally prepared.

He tried his best to pretend that he didn't know what was going on: "What are we deceiving you? We provide intermediary services, and all aspects have been approved by you, and you decide to invest in them yourself." ”

"You said in the financing report that there were 15,000 screens, but how come there are actually only 5,000?" Hong Dakai pointed out that the data in the original financing report and business plan was seriously flooded.

"That's a contract!" Shi Wenqing disagreed.

"According to the internal information we got from Mingming Media, there are actually only more than 5,000 installed screens, and a large number of LCD screens are lying in the warehouse. Hong Dakai puffed out his eyes and stared straight at Shi Wenqing, "Many of the contracts signed in the office building are fake!"

"Aren't there third-party accounting firms and law firms investigating the report? If there is data fraud, they should be held responsible. Shi Wenqing did not show weakness.

"They can't get out of it. Hong Da was in a hurry, and took out a fruit knife with a "snap", and plunged it directly into the Huanghuali table that Shi Wenqing had purchased not long ago, "You should know the consequences, if you still want to continue to work in this industry." We will never let it go easily!" After speaking, Hong Dakai did not wait for Shi Wenqing to reply, and slammed the door and walked away.

Shi Wenqing's heartbeat accelerated rapidly with the "snap" of the knife, young and vigorous, if it wasn't for the strong rational control, he would rush up and fight with Hong Dakai. He looked at a hole in the table, as if it had been inserted into his own body, and his heart ached.

In the afternoon of the same day, Shi Wenqing was depressed and asked Qin Fangyuan to have dinner. Qin Fangyuan is still on vacation to recuperate, he is not physically ill, but spiritual. Yu Yan returned to the United States, and when she left, she didn't call Qin Fangyuan, but just wrote an email, politely informing her of the news, and her language was flat. Qin Fangyuan was sad to see, and he read Yu Yan's sadness from behind these bland words. A woman can give everything for a man, or she can give up everything for a man, as long as she loves him, but she hurts her herself, so deeply.

Shi Wenqing said when they met: "I'm sorry, old classmate, it's my fault to call you back from Wall Street but this happened." ”

Qin Fangyuan said: "What you say, you are a person in your thirties, and any choice is your own decision, and it has nothing to do with others." Don't talk about it, I didn't have it in the past, I don't have it now, and I won't resent anyone in the future, let alone you. Have you ever seen "Days Related to Youth" directed by Ye Jing? To paraphrase their lines: Who of us is with whom, stealing sunflowers from kindergarten together, spitting and playing with passers-by from upstairs, what a beautiful childhood!"