Chapter 6 Chapter 04 His Only Son—Chen Zhizhong, a Minor Millionaire Underage

Li Qingyuan During Chen Shui-bian's tenure as mayor for less than four years, his wealth increased by at least 40 to 50 million yuan.And his only son, Chen Zhizhong, who is studying in the law department of National Taiwan University, can own a huge amount of stocks and a house with a market value of about 20 million yuan.The process of obtaining these huge properties is full of doubts and doubts. Mayor Ah Bian must clearly explain to the leaders! Doing the math, Chen Shui-bian, who came from a poor background, is now a billionaire. Chen Shui-bian, who has successfully transferred from a legislator to mayor of Taipei, has not reduced his ability to accumulate wealth. If Chen Shui-bian simply earns a monthly salary of NT$156,000 as mayor, then his four-year term as mayor The wealth will not accumulate much, and the deductions for households are at most three or four million yuan.

However, many people know that Chen Shui-bian's wife is very skilled at playing stocks. According to the property information that Chen Shui-bian reported to the Supervisory Yuan on December 15, 1997, in terms of stocks alone, the A-Bian family owned 414,243 shares with a face value of 414,243 shares. .In addition, I bought 3 million yuan of securities "Jie Fu Emerging Technology Fund".These stocks plus funds, based on the sluggish market conditions of the stock market on June 18, 1998, were as high as about 27 million yuan. Before Ah Bian's family was elected mayor, the declared shares were only more than 55,000 shares.And these stocks are almost played by Wu Shuzhen, which shows that Wu Shuzhen's appetite for playing stocks has grown in recent years.

The only child in school actually owns super-valuable stocks In the stock declaration materials at the end of 1997, there was an owner who had never appeared before. That was Chen Shui-bian's underage son, Chen Zhizhong, who was admitted to the Law Department of National Taiwan University in 1997. Owns 145,000 shares of "Nanya Technology" that are not listed on the OTC or listed. Nanya Technology was affected by the listed stocks, and the trading price in June 1998 was about 22 yuan per share. Based on this market price, Chen Zhizhong's stock value was as high as 3.19 million yuan.

In fact, the trading market of "Nanya Technology" in 1997 was bullish all the way, with the lowest trading price of 31 yuan per share and the highest price of 63 yuan per share. It's as high as 4.5 million to more than 9 million yuan. "Nanya Science and Technology" is a high-tech industrial company newly established by Formosa Plastics Group in March 1995, with a capital of 10 billion yuan. After that, it raised shares in two or three years. Wu Shuzhen was in 1997. Purchased 145,000 shares of "Nanya Technology" in the name of his son Chen Zhizhong. In Wu Shuzhen's public information on "buying stocks" in previous years, she has never bought stocks in the name of Chen Shui-bian or Chen Zhizhong. It is unknown why she suddenly bought stocks in Chen Zhizhong's name this time.

Doubtful method of stock purchase At the same time, 145,000 shares is not a small number.In Chen Zhizhong's records of the Overwatch Council reported by Chen Shui-bian in previous years, the largest deposit figure was 521,545 yuan.In other words, even if Chen Zhizhong bought a share at a face price of ten yuan, it would cost one hundred and forty-five thousand yuan.So, did Chen Shui-bian pay gift tax for Chen Zhizhong?Obviously, the mayor of a city, Chen Shui-bian, must make a public statement in order to set an example for the citizens to pay taxes. However, if Chen Zhizhong bought the "Nanya Technology" stock at a face price of ten yuan per share, it would obviously violate the common sense of buying and selling stocks.Chen Shuibian, Wu Shuzhen, and Chen Zhizhong are not employees of "Nanya Technology", and it is impossible to buy them at a low price through employee subscriptions; instead of employees buying stocks, there is a so-called public lottery, but general public lottery is also impossible One person can win more than 100,000 shares.

Therefore, at that time, if Chen Zhizhong bought it at ten yuan per share, it would obviously involve the so-called "inner supernatural powers and outer ghosts" insider profit transfer transaction.If so, it will be evidence that the Formosa Plastics Wang Yongqing Group is harassing Chen Shuibian.This phenomenon is exactly the same as the motivation of the business community to lose money to Chen Shui-bian's "Formosa Foundation" and "Taipei Cultural Foundation". If this is the case, Chen Shui-bian's integrity must be seriously questioned. The reason for buying a large number of non-blue-chip stocks is suspicious

In addition, according to securities reporters who are familiar with the inside information, most companies that raise shares, even listed companies, will have so-called "remunerative shares" based on various interest considerations, such as rushing to go public, listing on the OTC, or other interests. It's like when a golf course is being developed, in order to open up joints, it will find special objects to give or sell golf certificates. Undoubtedly, a mayor of the "capital" with administrative power must be the target of many parties.Therefore, Chen Shui-bian had to make a clear account of Chen Zhizhong's stock acquisition process.

In particular, Wu Shuzhen's habit of buying stocks in the past was obviously based on blue-chip stocks, and she rarely bought speculative stocks or stocks with an uncertain future. The "Nanya Technology" in Chen Zhizhong's hands is not a blue-chip stock, and it has been losing money year after year since 1996. For example, in 1996, the company had a cumulative loss of 1.036 billion yuan; 1.572 billion yuan.Given Taiwan's internal and external economic conditions in 1998, I'm afraid it was not much better. Moreover, in the process of applying to the Securities and Exchange Commission for OTC listing, "Nanya Technology" was banned in the first instance due to successive years of losses.Later, I changed the channel and obtained the "Certificate of Development Potential Product" through the Science and Technology Industry Review Committee of the "Ministry of Economic Affairs". This is the manufacturer with the most serious losses among the OTC manufacturers recommended by the Industrial Bureau. After "Nanya Technology" obtained the endorsement from the "Ministry of Economic Affairs", it had to go to the Securities Regulatory Commission to try to get officially listed on the OTC, but it hadn't been successfully listed until February 2004.

Why is Wu Shuzhen uncharacteristically willing to buy such a large amount of non-high-quality stocks and put so many eggs in a basket with no low risk?Indeed intriguing. For example, according to the investigation accepted by the Supervisory Yuan, the result released in March 1999 shows that Wu Shuzhen donated 100,000 shares of "Nanya Technology" shares to Chen Zhizhong on April 30, 1997, and Chen Zhizhong was in the On September 15th of that year, 45,000 shares of "Nanya Technology" were subscribed in cash at 20 yuan per share, and the subscription amount was 900,000 yuan.Therefore, it proved that they bought it at the insider price, not the current market price of 31 to 63 yuan per share.Unfortunately, the Overwatch Council did not investigate whether insider trading was involved, nor did it investigate the source of Wu Shuzhen's property for purchasing the shares worth 2 million yuan.

A Bian's father-in-law and mother "donated" real estate to his only son Chen Zhizhong In addition to huge stocks, also get huge profits In addition, Chen Zhizhong, Chen Shui-bian's son, had a prosperous fortune in 1997. Not only did he have a "huge stock", but he also "gifted" it from his grandparents Wu Chi and Wu Wangxia on March 27, 1997. I bought a house with a market price of 20 million yuan, and the location is connected to Chen Shui-bian's home. Chen Shui-bian is "the first floor of No. 8", and this house is "the first floor of No. 6".The building area is the same size, 43.71 ping.

The two houses add up to 87.4 pings. Behind the "No. 8 first floor", there is an illegal kitchen in the fire lane, which has been repeatedly criticized by the society, but Chen Shui-bian insists on not demolishing it.And the connection between the two is also an alternative illegal construction. The house on the first floor of No. 6 was bought by Chen Shui-bian on March 25, 1995, in the name of his mother-in-law, Wu Wangxia.Then at the end of 1996 and early 1997, Wu Wangxia "donated" half of the property rights to Chen Shuibian's father-in-law Wu Chi, and then "gifted" to his grandson Chen Zhizhong in the names of the two. The purpose of giving away such a lot of trouble is nothing more than legal tax avoidance.Wu Wangxia and Wu Chi can get a tax exemption of "two million yuan" a year. According to estimates, the tax calculation basis for gift tax for this house is about nine million yuan. If it can be reduced by two million yuan a year, In addition, in the year of the gift, the tax-free rate of gifts from his parents-in-law can reach up to 4 million yuan. Therefore, if the calculation is made for the three-year period from 1995 to 1997, it is possible that half of the gift tax will not be paid.Chen Shui-bian is a person who is proficient in the law, and of course he knows how to save taxes. However, there are too many doubts about the acquisition process of this house. For example, the house was acquired during the mayor of A-Bian, and was bought by A-Bian's father-in-law and mother-in-law?Or did Ah Bian buy it himself, and bought it under the name of his mother-in-law for "money laundering" and "tax avoidance"? Question 2: At that time, A-Bian himself had already owned five houses, so why did his father-in-law and mother-in-law need to donate the house to A-Bian's children? Question 3: A-Bian’s father-in-law and mother have other children and grandchildren besides Wu Shuzhen. Why don’t they give the house to their son or grandson who is closer to him, but to his grandson? Ah Bian has never made an explanation to the society about the doubts in this regard, which fully proves that he has a guilty conscience. In 1998, although the house was 27 years old, the location belonged to the elite Minsheng community in Taipei City, and the current value of the land was announced as high as 460,000 yuan per ping. Here, how much gift tax Chen Shui-bian has paid must also be accounted to the society. Based on the estimated wealth on the table, Chen Shui-bian's wealth increased by at least 40 to 50 million yuan during his tenure as mayor in less than four years.It seems that if the accumulation continues like this, Chen Shui-bian will definitely surpass Lee Teng-hui when he is seventy-six years old.This building next to Section 3, Nanjing East Road, Taipei City, Ah Bian owns a real estate of nearly 40 pings.