novelraw Chapter 24 Manager Xu and Qi Xue become lawbreakers
Chapter 24 Manager Xu and Qi Xue become lawbreakers
"Continue to sell off your existing shares."
"Leverage to create a false breakout."
Manager Xu and Qi Xue each acted in the shadows.
...
In a corner unnoticed by anyone, Spark Music's stock price has been rising for several consecutive days.
However, both Manager Xu and Qi Xue were well aware that the recent stock price increase was not due to improved company performance, but rather a short-term misjudgment by the market.
Because Manager Xu strictly controlled the news of Yu Nuannuan's contract termination, the market mistakenly believed that this former pop star was still with Xinghuo, and the company was expected to stop its decline and rebound by relying on her comeback.
But the truth will eventually come out, and once it is revealed, Xinghuo's stock price will plummet or even collapse.
Moreover, sometimes there's no need to wait for the market to react; someone will make a move.
"Boss Lin, we've caught that Xu guy red-handed."
Lin Yi listened quietly to the report from the head of XX Business Investigation Agency on the other end of the phone.
The gist is that Manager Xu's ex-wife has been selling off Xinghuo shares and transferring the funds to a shell company in a free trade zone, which is controlled by Manager Xu behind the scenes.
"By the way, Mr. Lin, a group of investors has recently appeared in the market, shorting Xinghuo. Their methods are quite crude," the voice on the other end of the phone said casually.
The person who shorted Xinghuo's stock while it was rising continuously must have known about Yu Nuannuan's real contract situation.
Are they from inside Xinghuo?
Lin Yi thought for a moment, then shook his head.
Never mind, it has nothing to do with him.
"First, gather evidence and report Xinghuo's general manager to the regulatory authorities."
"Okay, Mr. Lin."
"Hmm." Just as Lin Yi was about to hang up the phone, a sudden inspiration struck him.
"Investigate another person for me, Qi Xue, Yu Nuannuan's former manager," Lin Yi said.
If the person who leaked the information wasn't Qi Xue, then consider it a waste of investigation fees.
If it's Qi Xue, send her in; we can deal with her all at once.
"No problem, Mr. Lin."
...
Shortly after, a group of uninvited guests in uniforms barged into the general manager's office of Xinghuo Music.
They flashed their badges and said coldly, "Manager Xu, please come with us to cooperate with the investigation."
The news that the general manager of Xinghuo Music was taken away for investigation by regulatory authorities instantly ignited the entertainment industry.
Weibo.
The hashtag "Xu, manager of Xinghuo Music, was taken away" quickly became a trending topic.
At the same time, news spread that Yu Nuannuan had terminated her contract with Xinghuo Music two months ago.
The hashtag "Yu Nuannuan terminates her contract" suddenly appeared at number one on the trending search list.
The combination of two major negative news stories instantly shattered market confidence in Spark Music.
Shortly after the news broke, Spark Music's stock price plummeted to its daily limit.
People in the entertainment industry flocked to watch the drama unfold, while those in the stock market were completely blown away.
"Wait, Yu Nuannuan, a core artist, terminated her contract, and Xinghuo didn't even disclose it? Isn't that illegal?"
"It's a violation. Let's wait and see how the regulatory authorities punish Xinghuo."
"What's the point of punishing Xinghuo? The important thing is my money!"
"Yes, you can file a civil lawsuit demanding compensation from Spark for your investment losses. However, it's unclear whether Spark actually has that much money in its accounts."
Shareholders overwhelmingly criticized Xinghuo Music and Manager Xu, expressing their deep disgust at their illegal operations.
But gradually, the wind shifted, and the scope of the investors' attacks expanded.
"And the ** department, I suggest investigating whether there was any transfer of benefits, otherwise why was Xinghuo able to keep the news a secret."
"And what about Yu Nuannuan? Didn't they make it public that she terminated her contract?"
...
"Sister Nuan Nuan, why are these people acting like this? This has nothing to do with you, why are they blaming you?"
"Earth Studio," complained Gu Xiaoyu, Yu Nuannuan's former assistant and current agent.
At the same time, she quickly contacted her public relations team to clarify the public opinion surrounding the incident.
...
The following day, when the stock market opened, Spark Music's stock price predictably hit the daily limit down again.
Panic spread, and retail investors holding Xinghuo shares scrambled to escape this sinking ship.
But just like the Titanic, the number of seats to escape was limited, and most people ended up perishing at sea.
As a result, the investors became even more frenzied, launching attacks on relevant departments and personnel everywhere.
At this point, some netizens (scratch that, paid commenters) uncovered a crucial piece of information.
Two months ago, Yu Nuannuan started a brand new personal Weibo account and publicly announced her termination of contract with Xinghuo Music on that account.
At the time, this blog post only received a few scattered comments from fans and did not attract widespread attention.
Looking back now, the timing matches perfectly.
The truth is not that Yu Nuannuan is hiding anything, but rather that the news has been intentionally suppressed.
Soon, more details were revealed.
The post was whitewashed by online trolls, labeled as a malicious rumor, and ultimately blocked.
Yu Nuannuan's newly opened account was repeatedly maliciously reported and her search function was restricted.
While there is no direct evidence for these actions, from the perspective of the biggest beneficiary, they all point to Spark Music.
At this point, public opinion completely shifted.
Xinghuo's stock price has hit the daily limit down for several consecutive days, and delisting is now a foregone conclusion.
...
"Old man, you think you can just cash out and leave? Not so easy. I'm still the better one."
In the office floor of Xinghuo Music, while everyone else looked anxious, Qi Xue couldn't help but smile.
Seeing the green light reflected from her phone screen, she almost burst out laughing.
"Hello, is Qi Xue, the top agent at Spark Music, here?"
A voice suddenly rang in Qi Xue's ears. Qi Xue looked up and saw several figures in uniform. She was a little confused: "That's me, what's wrong?"
"Ms. Qi Xue, you are suspected of insider trading and trading on undisclosed information. Please cooperate with our investigation."
Qi Xue's body instantly went limp in the chair.
How could this be? How did the investigation lead to her?
After showing his credentials to the curious Xinghuo employees who had gathered around, the newcomer lifted Qi Xue up.
...
A few days later, the relevant authorities issued a notice.
General Manager Xu and former broker Qi were severely punished according to law for serious illegal acts such as concealing significant negative information and engaging in insider trading.
Xu was sentenced to 10 years in prison and life imprisonment for his illegal gains, a huge fine, and a lifetime ban from the securities market.
Qi was sentenced to seven years in prison and banned from the securities market for life, with his illegal gains confiscated and a fine imposed.
In addition, many individual investors and institutions who were defrauded have filed class-action civil lawsuits against the two individuals.
Although Manager Xu and Qi Xue were sentenced, Xinghuo Music still has to bear joint responsibility.
The other shareholders of Xinghuo Music held a meeting overnight and ultimately decided to file for bankruptcy reorganization.
Lin Yi, who had been waiting for the right opportunity, finally made his move.
As he had anticipated, almost no one bid against him for the copyright to Yu Nuannuan's master recordings after he made his offer.
Ultimately, Lin Yi successfully repurchased all of Yu Nuannuan's master recordings from her time at Xinghuo Music at a relatively low price.
This not only saved a lot of manpower and material resources, but also protected Yu Nuannuan's public image to the greatest extent.