Chapter 935: Far More Serious than Imagined!

Historically, anyone who dared to privately embezzle bank deposits to invest in real estate, like Liao Baoshan of Liao Innovation Bank, eventually died of a blood vessel burst. Chinese banks that dared to lure investors with high interest rates eventually suffered serious bank runs and banking crises.

Today, although Cai Chenzhou's Shixin has not yet exploded, it is on the verge of an explosion.

How did Cai Chenzhou deal with it in history?

In 1982, after someone discovered that Shixin's loans seriously exceeded the deposit reserve, someone had submitted a petition to the Finance Department, suggesting that Shixin's board of directors be reorganized and that Cai Chenzhou be ordered not to serve as the chairman of the board of directors, but the petition was sent to the Minister's Office and was returned. It was sent again and again, and after several twists and turns, the reorganization was finally left unresolved.

In March of the following year, it was discovered that the illegal lending situation was even more excessive, and it was reported to the Ministry of Finance again, but there was still no action there.

By April, Shixin's lending became more rampant, and the Taibei Finance Bureau made another suggestion to the Ministry of Finance. This time, it not only requested the reorganization of Shixin's board of directors, but also hoped to suspend Shixin's lending business and suggested that the Ministry of Finance send personnel to Shixin to correct the problem.

The relevant parties simply glossed over the problem on the grounds of stabilizing the financial situation. In the end, a Shixin employee could not stand it and sent a letter of complaint to Mr. Jiang. Mr. Jiang was furious and ordered a thorough investigation of the matter.

Yu Guohui, the then Premier of the Executive Yuan, knew that the Cooperative Bank was no longer trustworthy. He had served as the president of the Central Bank. So on January 4, 1985, he contacted his former subordinates and decided to form an investigation team with the Central Bank's treasury unit. The next morning, he launched a surprise inspection of Shixin's seven branches at the same time.

Originally, only a few people knew about this action. Cai Chenzhou received the news on the day the plan was drawn up, and sent the Thirteen Brothers Gang to the residence of Qian Chun, the vice president of the Central Bank, to lobby for the cancellation of the next day's action. Qian Chun righteously refused.

Although the operation was leaked, because seven companies were inspected at the same time, Cai Chenzhou had no time to move money to remedy the situation, and Shixin's lies were completely exposed.

Cai Chenzhou knew that the matter was done, so he began to plan to run away with the money.

At first, he told the competent authorities that it was because a branch manager misappropriated customer funds in the past few years, causing a deficit of 120 million yuan. In addition, the money from Guolu Plastic's long-term bonds was already in Shixin. These customers were worried that their money would also be misappropriated, so they terminated the contract in advance, resulting in a lack of capital turnover and the problem of discrepancies in the accounts. He hoped that the competent authorities would give a grace period to improve the situation, and hoped to raise 1 billion yuan from the cooperative treasury to get through this period of cash shortage.

Because the news of the financial inspection had been spread through the media, although it was not a big news at the time, a small number of customers began to move their funds abroad. At this time, the Minister of Finance was replaced by Lu Runkang. He originally did not want to lend money, but he was afraid that depositors would not be able to receive the money and cause a panic run, so he had to agree to cooperate with the treasury for financing, but the condition was that Shixin could not lend money to the outside world again, and this amount was limited to paying depositors for cash withdrawals and bill redemption. If there was any violation, financing would be stopped immediately.

Unexpectedly, the funds were not allocated until February 4, 1985, and Shixin lent out and spent 1 billion, and also requested financing of 1 billion again.

On February 5, 1985, the request for financing cooperation was received. The treasury knew that Shixin had defaulted on the loan, but it did not expect to receive a call from the senior officials of the Ministry of Finance saying that the previously agreed loan restrictions would be cancelled and the cooperative treasury should continue to lend to Shixin.

So on February 6, 1985, Shixin received another 1 billion, but applied for another 1 billion the next day. By February 8, 1985, a total of 3 billion was raised.

Dean Yu was furious when he received the news. The 3 billion yuan was lost. He could only urgently order Shixin to stop operating for three days and quickly sent people from the cooperative bank to take over all the business of Shixin.

On February 11, 1985, when the operation was resumed, the doors of each branch were crowded with people early. Every depositor was eager to withdraw the money, fearing that they would not be able to get the money in the end.

The money in the bank was empty, and the depositors began to panic. Fortunately, the person in charge at that time quickly transferred money from the cooperative bank, and people calmed down again.

Where did the 3 billion yuan go?

It turned out that in order to run away with the money, Cai Chenzhou found more people from Guolu Plastic Group to apply for loans, and sent his confidants in Shixin to do the accounting and help him withdraw the loans in batches. In this way, the 3 billion yuan of the cooperative bank went in and out of the left hand and the right hand, and finally went into Cai Chenzhou's pocket. Because of the wrong decision of the Ministry of Finance this time, the Minister of Finance Lu Runkang stepped down.

Cai Chenzhou did not succeed in escaping in the end. The prosecutors and investigators had already locked down his whereabouts. With the evidence of his guilt confirmed, he was detained on March 1.

Shixin had been embezzled for a long time. More than NT$10 billion of its deposits were emptied by Cai Chenzhou, not including the long-term bonds issued by Guolu Plastics. In order to make up for the depositors' money, the Cooperative Bank had to merge Shixin and take over all his debts to protect the rights and interests of depositors.

However, only ordinary depositors were protected. As for those who subscribed to Guolu Plastics' super-high interest bonds, many of them could not get them back in the end.

Other Cai family businesses in Guolu were also affected. Guolu Trust, owned by his elder brother Cai Chennan, also suffered a run. It was only with the support of the government that it managed to survive. Then, just as the economy improved, the assets under the trust soared and it survived.

Guolu Life Insurance, Lailai Hotel and other industries had already distanced themselves from Cai Chenzhou earlier. His uncle Cai Wanlin even scolded Cai Chenzhou very badly in the media, fearing that the fire would burn him.

Cai Chenzhou himself had a very miserable end. Because of the repeated running between court and prison, he was overworked and developed liver cancer.

But the public did not believe him and thought he was faking his illness. So when he was admitted to the intensive care unit for liver cancer, many people from all over Taibei City asked him to come out and face the truth.

When he finished his treatment and could speak a little, he was pushed to court again.

He died on the road, but the public thought he was faking his death and demanded that his body be made public. Finally, a reporter sneaked into the morgue and took a group of photos of his final appearance. The case of Shixin was finally closed.

But.

Did Cai Chenzhou really fake his death in history?

Yang Ming felt that with the status, influence and wealth of the Cai family in Taiwan, and even with Cai Chenzhou's own network of relationships, there was a possibility.

However, the possibility was not high.

In other words, Cai Chenzhou should have died in prison in history, and his end was very miserable.

Today, the run on Shixin has not yet broken out, which means it can still be saved.

Shixin is now in debt of more than 10 billion yuan.

Although it is a new Tai currency, it was also a large sum of money in 1984.

Cai Chenzhou and the Cai family wanted to easily ask Yang Ming and Empire Group for help, which was impossible.

Yang Ming knew that Cai Chenzhou had embezzled many of Shixin's assets and entered the real estate industry.

Taiwan's real estate only started to soar after 1987.

In other words, if Cai Chenzhou and Shixin could not explode until after 1987 in history, perhaps Cai Chenzhou's situation would be better.

However, there is no if.

Cai Chenzhou talked for a long time, even telling some secrets, just to gain Yang Ming's trust.

After listening, Yang Ming said nothing, just looking into the distance.

This made Cai Chenzhou start to worry.

Chapter 4!

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