Volume 2: Ecology Chapter 229: Reported for Changing the Use of Loans
The boiling restructuring of Xizhou Chengbei Supply and Marketing Cooperatives finally ended with a partial buyout of Liufang Industrial Group. Just as the group was preparing to go all out to vigorously develop the Chengbei Supply and Marketing Cooperative, the Northwest Provincial Supervision Bureau of the China Banking Regulatory Commission received a report letter, which directly accused Liufang Industrial Group of changing the purpose of loans without authorization and using loans to purchase state-owned assets in violation of regulations.
At this time, the real estate bubble in South China was frantically emerging, and the State Council launched the first financial regulation in history. The Northwest Provincial Supervision Bureau of the China Banking Regulatory Commission immediately launched an investigation into the illegal use of loan funds by Liufang Industrial Group, and the staff of the supervision bureau blocked the ...... with the cooperation of the police
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