"Rubber worth more than 83 million yuan 'missed', and the suspect was found to be a 'family member'?" Recently, a case involving a private company legal person taking advantage of his position to misappropriate huge amounts of goods without authorization to cover personal business losses has attracted attention.
It is understood that Company A is a company engaged in futures trading of rubber and plastic products and has a large amount of natural rubber inventory. However, since 2022, due to sudden changes in market conditions, the price of natural rubber has plummeted, causing Company A to suffer serious losses. At this critical moment, Wang, one of the legal representatives of Company A, instead of actively responding to the crisis, chose a path of no return.
Wang took advantage of his position in Company A and the convenience that both companies (Company A and Company B, which was privately established by Wang) had inventory in the same warehousing company, to carefully plan an "ant moving" style of encroachment. He privately made a transfer order, transferred the rubber stock in the name of Company A to Company B, and sold it in the name of Company B, thus filling the funding gap caused by the market downturn in Company B.
"I thought the market was only temporarily bad, so I wanted to use the inventory in the warehouse to complete the purchase contract for my own company to fill the funding gap. Then I wanted to wait for the rubber price to rebound and then profit from it to take advantage of the opportunity to turn around." Wang His "wishful thinking" did not go as he wished. The market did not rebound. Instead, losses continued to expand due to high-priced purchases and low-priced sales. In the end, Wang not only failed to save Company B, but instead emptied Company A of more than 7,000 tons of rubber in stock, and the total embezzled goods amounted to more than 83 million yuan. Faced with the severe situation, Wang knew that he could not escape the sanction of the law and voluntarily surrendered to the public security organs. After the Xuhui District Procuratorate launched a public prosecution in accordance with the law, the Xuhui District Court sentenced the defendant Wang to 12 years and six months in prison for the crime of job embezzlement and was fined RMB 2 million.
Source: Shanghai Xuhui
