Wirecard scandal What’s left of the U committee

As of: 06/22/2021 9:16 a.m.

A year ago, the financial services provider Wirecard went bankrupt. A U-Committee of the Bundestag tried to find out why controllers and supervision failed. The committee has now completed its work.

From Tobias Betz, ARD capital studio

Head of authorities fired, insider trading uncovered: A reform should turn Germany’s financial supervision inside out. The committee of inquiry into the Wirecard scandal has initiated a lot. More than 100 witnesses were questioned and thousands of documents turned over.

Florian Toncar did this for the FDP: The investigative committee had come to a clear conclusion. “We made it very clear that the Wirecard case was not a natural disaster that no one could have foreseen or averted,” he says. There were hints and people who warned early on. The disturbing thing about the Wirecard case is that all of this could have happened with the eyes of sight and under the inspectors’ radar.

BaFin seal of approval?

The central accusation of the opposition: The Federal Financial Services Agency (BaFin) did not investigate early indications of possible irregularities at Wirecard. Instead, according to experts, the authority made fatal misjudgments.

BaFin was convinced that Wirecard was being blackmailed. That is why the authorities imposed a ban on the short sale of Wirecard shares in February 2019. BaFin had never before issued such a speculation ban with a single share. Many market participants understood this signal as a kind of seal of approval: You can trust Wirecard, the company is clean!

Many small investors then got on board. When the rumors that had been circulating for years about inflated balance sheets at Wirecard turned out to be true in June 2020, the share price plummeted. Wirecard was broke. Many small investors lost everything.

The minister and the chancellor had to testify

Since then, the public prosecutor has been investigating, among other things, gang fraud. Former board members were arrested and one of them, Jan Marsalek, is still on the run to this day. Because the control authorities are subordinate to ministries, the opposition’s criticism was directed at the government, says Lisa Paus, who sits on the committee of inquiry for the Greens. “Wirecard was also an auditor scandal. The supervision was under the economics minister Peter Altmaier,” says Paus. Above all, Wirecard is a broad supervisory scandal overall. “The financial supervision was under the SPD finance minister Olaf Scholz.”

Ministers Scholz and Altmaier had to testify in the committee of inquiry. Chancellor Angela Merkel was also questioned for hours. None of them admitted mistakes. On the other hand, the work of the investigative committee certainly increased the pressure on the Federal Finance Minister to completely reform the financial supervisory authority BaFin, which is subordinate to him, including a change at the top of BaFin.

Bankers lost their reputations

Financial expert Fabio De Masi from the Left Party is certain that the results of the committee of inquiry are not only politically interesting: “The auditors’ mistakes will play a role in class actions by small investors,” he says. Never before have so many heads rolled at the head of authorities in such a short time.

Authority managers, bankers, analysts, fund managers and BaFin employees – they lost their jobs, their bonuses, their reputation. These are the first concrete effects of the committee of inquiry into the Wirecard scandal. The witness chair on the investigative committee was therefore soon more feared by some than the dock in a criminal court

Expelled from the party after more than two years of retirement

According to Liaoning Provincial Commission for Discipline InspectionAccording to the report, after investigation, Qi Yumin lost his ideals and beliefs. Ignore party discipline and state laws and oppose organizational censorshipViolating the spirit of the eight central regulations, accepting gift money that may affect the fair execution of official duties, arranging and using official vehicles in violation of regulations; violating the rules of procedure and violating regulations to determine major issues, concealing personal matters, and failing to truthfully explain the issues when organizing letter inquiries. Use power to seek benefits for others in the selection and appointment of cadres;Borrow money from management and service targets, run business in violation of regulations, get paid for part-time jobs in violation of regulations, and engage in money-and-color transactions; Dereliction of duty and responsibility for the false reporting of profit issues of Brilliance Group; dereliction of control and education of spouses and children; use of the convenience of the position to seek benefits for others and request and illegally accept property;Use the convenience of the position to embezzle public funds to others for profit-making activities; Abuse of power has caused serious losses to state-owned companies and caused heavy losses to national interests.

Qi Yumin seriously violated the party’s political discipline, organizational discipline, integrity discipline, work discipline, and life discipline, constituted a violation of the law and was suspected of crimes of bribery, embezzlement of public funds, and abuse of power by state-owned company personnel. They still do not converge or close their hands after the university, their nature is bad, and the circumstances are serious. They should be dealt with seriously. In accordance with the “Chinese Communist Party Disciplinary Sanctions Regulations”, “The Supervision Law of the People’s Republic of China”, “The Law of the People’s Republic of China on Governmental Sanctions of Public Officials” and other relevant regulations, the Provincial Disciplinary Committee Standing Committee meeting researched and reported to the Provincial Party Committee for approval, and decided to give Qi Yumin expelled from the party; Cancel the treatment they enjoy in accordance with the regulations; collect their income from violations of discipline and law; transfer their suspected crimes to the procuratorial organ for review and prosecution in accordance with the law, and transfer the property involved together.

On December 4 last year, the Central Commission for Discipline Inspection and the State Supervision Commission issued a notice stating that according to the Liaoning Provincial Commission for Discipline Inspection, the former party secretary and chairman of Brilliance Automobile Group Holdings Co., Ltd. (hereinafter referred to as “Brilliance Group”) Qi Yumin was suspected of serious violations of discipline and law. , Is currently undergoing disciplinary review and supervision and investigation.

According to the official resume, Qi Yumin was born in January 1959. After graduating from Shaanxi Institute of Mechanical Engineering in 1982, he joined Dalian Heavy Machinery Factory and served as deputy director and director of the Economic Planning Department. In 1995, he served as the deputy director of Dazhong Group Corporation. Manager, served as general manager of Dazhong Group Corporation in 1998.

In 2000, Qi Yumin served as chairman and general manager of Dalian Heavy Industry Group Co., Ltd., and the following year as chairman and general manager of Dalian Heavy Industry Lifting Group Co., Ltd. In 2004, Qi Yumin served as the deputy mayor of Dalian.

At the end of December 2005, Qi Yumin was transferred to Brilliance Group as the party secretary and chairman of the board. Many years later, Qi Yumin said frankly in an interview with the media, “It was sudden, very tragic, ignorant and helpless to get the transfer order.” It is reported that the Brilliance Group at the time was still in the aftershocks of the Yangrong incident. The middle-level lost dealers fled and suffered serious losses. Qi Yumin, who arrived at that time, was once regarded as the “fire-fighting captain.”

Qi Yumin (Image source: Visual China)

After that, Qi Yumin cashed out on the capital market through Brilliance’s capital operation team, realizing the supplement to Brilliance’s capital. According to the Securities Daily, Qi Yumin clearly stated in an exclusive interview at the company’s 10th anniversary meeting: “Brilliance Auto’s development over the years has mostly relied on its own financing. Therefore, the financing capabilities of the capital market and Brilliance’s capital The multi-channel financing of development by the market is the key support for the development of independent brands.”

Qi Yumin also allowed Brilliance to obtain technical support through cooperation with BMW.

The industry generally believes that in the ten years of cooperation with BMW, Brilliance can not only lie down and make money, but also actually taste the sweetness of “using the market for technology”.However, Brilliance, whose development capability is too weak, has been unable to digest BMW’s technology, and its sales in its independent sector have also been declining, and its market share has been shrinking..

According to the Beijing News, in 2015, Brilliance Zhonghua’s small SUV Zhonghua V3 was officially launched. At that time, Qi Yumin set a goal: China V3 will be a pattern changer in China’s small SUV market;He repeatedly stated, “Before I retire, I must make Brilliance into the Fortune 500.”However, China V3 did not realize Qi Yumin’s sustenance. In 2017 and 2018, the sales of China V3 declined year after year, with annual sales of 36,000 and 12,500, respectively, down 52% and 65.27% year-on-year..

Finally, on October 11, 2018, at the 15th anniversary celebration of BMW Brilliance, Brilliance Group and BMW Group jointly announced that Brilliance Group intends to sell 25% of the shares in BMW Brilliance to BMW Group by 2022, the transaction price is RMB 29 billion yuan,BMW Brilliance will become the first vehicle joint venture company controlled by a foreign party. This has caused Qi Yumin to suffer from public controversy.

Qi Yumin later revealed when he was a guest on CCTV that the prerequisite for BMW’s negotiations at the time was a 75% share ratio, and everything could be discussed, but the share ratio could not be discussed. As a result, Brilliance had to negotiate two agreements with the other party: First, to make the pie of the joint venture bigger, at least to double it, “otherwise it would be meaningless to liberalize the equity ratio.” In addition, the shareholders of both parties have to obtain greater economic benefits,”Three and a half years later, Brilliance has changed from 50 to 25, but the benefits of 25 must be greater than the current 50.”.

On April 1, 2019, when he retired from Brilliance Group, Qi Yumin said with emotion, “The past was cleared, love and hate are at will, I hope Brilliance will always be well”. But now, Qi Yumin and Brilliance are both running counter to the vision.

Brilliance Group went bankrupt and reorganized last year

According to the official website of Brilliance Group, the company has 4 listed companies (Brilliance China Automotive Holdings Co., Ltd., Shanghai Shenhua Holdings Co., Ltd., Jinbei Automobile Co., Ltd., and Xinchen China Power Holdings Co., Ltd.), and more than 160 wholly-owned, holding and shareholding companies the company. There are 47,000 employees,Total assets exceed 190 billion yuan.

Last year, Brilliance had many operating problems. Since July last year,Brilliance Group was caught in a debt turmoil, was exposed to 100 billion yuan in debt, and many equity shares were frozen. In August, Dagong International and Oriental Jincheng successively included Brilliance Group and its multiple bonds on the rating watch list. In September, both Orient Jincheng and Dagong International downgraded Brilliance Group’s main credit rating, among which Dongfang Jincheng downgraded to AA+ and Dagong International directly downgraded it to AA. On October 16, Oriental Jincheng once again downgraded Brilliance Group’s main credit rating to AA-. On October 21, Dagong International downgraded the main credit rating of Brilliance Group to A+.

On November 16 of that year, Brilliance Group disclosed thatThe company has constituted a total debt default amount of 6.5 billion yuan and overdue interest amount of 144 million yuan. Due to the shortage of corporate funds, the renewal credit approval has not been completed, resulting in failure to repay. Then on November 20, the Shenyang Intermediate People’s Court ruled to accept the creditor personality Zhizhi Automobile Technology Co., Ltd.’s application for reorganization of Brilliance Group.Brilliance Group officially entered the bankruptcy reorganization process.

The court’s ruling stated that the assets of Brilliance Group were insufficient to pay off all its debts, and that it had bankruptcy reasons stipulated in the Corporate Bankruptcy Law. But at the same time, the group has the value and possibility of salvation, and the necessity and feasibility of reorganization.

For driving to this position, according to the relevant person in charge of the Liaoning Provincial SASAC,Brilliance Group’s long-term poor operation and management, its own brands have been in a state of loss, and the debt ratio remains high. Since 2018, the Liaoning Provincial Government and relevant departments have been working hard to help Brilliance Group solve its cash flow problems, but its debt problems have been accumulated. This year, affected by the new crown pneumonia epidemic, the operating conditions of Brilliance Group’s own brands have further deteriorated, and long-term accumulated debt problems have erupted. According to the semi-annual report of Brilliance Group this year, the total liabilities at the group level are 52.376 billion yuan, the debt-to-asset ratio exceeds 110%, and the financing capacity is lost. In order to solve the debt problem, the relevant parties established the Brilliance Group Bank Debt Committee to seek debt reconciliation, but failed.

On the day that Brilliance Group officially entered the bankruptcy and reorganization process, the China Securities Regulatory Commission stated,Special inspections have been carried out on Brilliance Automobile Group in accordance with the law, the administrative supervision measures of issuing warning letters have been taken against Brilliance Group, and it has been decided to file an investigation for suspected violations of information disclosure., Conduct simultaneous inspections of intermediaries involved in the Brilliance Group’s bonds, and strictly investigate and deal with violations of laws and regulations.

Edit| Sun Zhicheng Xiao Yong

Proofreading| Lu Xiangyong

Daily Economic News Comprehensive public information, CCTV news, Beijing News, Securities Daily, etc.

This kind of investment and construction is still in progress, and even some remote uninhabited islands in the past are frantically building resort hotels and villas. This kind of huge investment of tens of millions of dollars is actually a very high-risk operation. Once the capital chain is broken, the operation strategy is wrong, and the number of tourists declines, it is easy to go bankrupt. Hachijo Island is a Japanese island that is relatively unfamiliar to Chinese tourists. In the middle of the last century, with the rapid rise of the Japanese economy and the rapid development of tourism, this island located 287 kilometers south of Tokyo is vividly called the “Japanese Hawaii” by Japan. With the surge in tourists, construction of an ultra-luxury hotel began in 1960, and the Hachijo Royal Hotel opened three years later. Japan, beaten to the ground by the United States, has an inexplicable affinity for the West. However, as Europe and the United States remained vigilant towards Japan shortly after the end of World War II, it was not convenient to apply for outbound travel. In order to protect domestic consumption power and avoid foreign exchange outflows, Japan restricts outbound travel. In this context, Hachijo Island, which has no external competition, has become a popular tourist destination. In 1963, the Royal Palace with the theme of European style officially opened. It was known as the most luxurious hotel at that time and attracted many Japanese tourists. The Japanese social circle at that time was all proud of being able to live in such a hotel. If anyone around him went to Hachijojima for a holiday and stayed at the Royal Hotel, they would definitely be the envy of people. But with the relaxation of “outbound” conditions and the rapid increase in Japan’s national income, traveling abroad is no longer a difficult task. Especially in the 1980s and 1990s, the consumption of revenge after becoming rich made Japanese tourists spread all over Europe, Asia, and the Americas. Although Hachijo Island is clean and suitable for diving and hiking, there is no golden beach. And because it is very far from the main island of Japan, the transportation is inconvenient, and the prices are not low, there is a feeling as if you go to Sanya to be more expensive than Thailand. Coupled with the rise of Okinawa’s tourism industry, Hachijo Island has experienced a sharp decline in the number of tourists in just a few years, and this luxury hotel that many people couldn’t afford to climb in the past has gradually become a stunner. In the late 1990s, the hotel business went from bad to worse. By this time, the hotel had changed owners many times and became a burden. Whoever takes over will be unlucky. In 1996, the Royal Hotel, which had been closed for a long time, reopened. Although it cost a lot of money to repair it and put up a wave of advertisements, there are only a few tourists who come to experience it. Japanese tourists at this time are no longer the original nouveau riche image, it is impossible to travel because of an old hotel. The hotel was finally closed in the summer of 2003 and was later transformed into a resort, but it did not persist for three years. In 2006, it was completely abandoned on Hachijo Island. A few years later, this famous hotel in the past was overgrown with weeds, presenting an aura of dilapidated loneliness everywhere. Some rooms with broken windows have long been soaked by rain, and the seeds floating in from the windows following the sea breeze have already taken root on the wooden boards, sofas, and bed sheets. It looks like a forest has grown out of the hotel. Only a few rooms have been kept intact because the doors and windows are closed. But once the door was opened, the old musty smell was still very impressive. In recent years, because the hotel has become deserted and popular, it has attracted many tourists to break in. The original lobby facilities and room layout have also been destroyed to a certain extent. Or because the Japanese gods talk too much, the abandoned houses in this country always give people an uncomfortable feeling. People walking inside the hotel, the squeaking and squeaking sounds from the feet on the wooden planks, and the whining sound from the sea breeze blowing through the windows, make the scalp numb, and I can’t help but look behind me, fearing to meet my heart. I don’t want to see the scene in it. There are nearly ten thousand residents on Hachijo Island. According to the legend, the residents here were still left when Xu Fu traveled to Japan. Few people in Hachijo Island today talked about the “empty city” with the largest area on the island, and no one broke in to move furniture. Only when outsiders asked, the local residents were in a daze: Many years ago, they thought that this hotel would promote local tourism and improve their lives. Thinking about it, it was a dream after all.

Share with VTC News , expert Phan Anh Tu analyzed the wisdom in Kiatisak’s tactics and explained the failure of Hanoi FC. Video: HAGL 1-0 Hanoi FC – Are you surprised by the HAGL’s preemptive strike approach? HAGL played wisely. Coach Kiatisak arranged a foreign striker and a naturalized striker in the attack, with the aim of restraining the midfielder duo of Hanoi FC. As a result, technical winger players like Van Toan and Van Thanh have space to promote their abilities. HAGL knows in advance that Hanoi FC will be impatient to attack, so they play closely, systematically and counterattack very well. After having a goal from Xuan Truong, HAGL played leisurely, very alertly and in no hurry. Therefore, the quality of the home team’s finish is very good. If you play in a hurry, HAGL can easily pass and kick, but in this match Kiatisak’s team is not in a hurry. If they lose the ball, they can reduce the tempo of the game. Thanks to the leisurely, psychological comfort and the ability to control the game very well, HAGL has played better than Hanoi FC. Brandao (white shirt) was very aggressive. Contrary to the leisurely HAGL is a rare image of haste and impatience of Hanoi FC. The visitors are having psychological problems? Looking at the whole game, HAGL deservedly won. HAGL’s approach to the match, organization of tactics and idea of ​​playing ball is completely correct. They have a computational advantage, due to being the top team in this match. HAGL is kicked at Pleiku’s home ground, ranked above Hanoi FC and has a huge cumulative score. Coach Kiatisak’s team has a stable play style, increased player confidence. Meanwhile, Hanoi FC played in a bad mood. They have to play in Pleiku, which is a very difficult soccer field. In addition, the performance of Hanoi FC is also poor, so the calculation door of this team is much narrower than that of HAGL. In the first half, Hanoi FC attacked with a long ball, then in the second half put all his strength on the kick in a way to eat, fell to the air. However, the Capital team could not solve the situation due to psychological instability. Van Quyet’s missed situation is an example. Geovane is ineffective. The Hanoi FC players are very thirsty to win and impatient in this match, contrary to the confidence of HAGL. In addition, the foreign striker of the Capital team is very poor. They can besiege the opponent, but the quality of the shots is almost nonexistent. Geovane is not a mighty striker. He is a technician, an artist, but in fact Hanoi FC has no shortage of artists. They need a brave hero to describe a sudden conflict in the penalty area like Hoang Vu Samson, Oseni, … Foreign soldiers are poor, so Hanoi FC’s stone style is also bankrupt. – Confidence is also a different factor for HAGL today and HAGL in the previous defeat to Hanoi FC? That is the difference of HAGL in today’s match. The players believed in the coach’s tactical ideas, so when the Kiatisak was successful, he became even more confident. Having confidence, HAGL can execute situations with a very high probability of success. Conversely, if the player loses confidence, how many goals the striker scores and then the lower line conceded, the player can kick with fire and enthusiasm but still will lose. HAGL defends well now. The defender’s stone line is very solid and safe, creating a feeling of peace of mind for the striker. Thus, the attacking players only need to know the chance. HAGL strikers have good technical qualities from the past, so they can promote their abilities. HAGL defensively rolled out. – Kiatisak put Cong Phuong on the bench and when the player came on the field in the 30th minute (just like the match against the HCM City club), HAGL immediately got a goal. Is this luck, or a well-thought-out tactical plan? HAGL does not take into account the times when replacing Cong Phuong. That is the replacement of the tactical waiter. Bringing Cong Phuong in, HAGL can play counterattack effectively. Cong Phuong has the ability to pass the ball, to play the ball well, to play miraculously and unpredictably. When Hanoi FC was on the rise, coach Kiatisak needed Cong Phuong to create a threat in a counterattack. This decision is purely professional. Coach Kiatisak is also very good at hand. He understands that HAGL has many computational advantages, while Hanoi FC is in a difficult position without the staff. Cong Phuong is an unpredictable player. – Has HAGL had enough time, advantage, and humanity to compete for the throne? HAGL has good players, human quality is appreciated. After many years, the player’s experience has also increased a lot. They are more confident and mature. Coach Kiatisak also came to HAGL at the right time when the player entered the field, reaching a nine-year career, just like when Coach Park Hang Seo took over Vietnam. If Kiatisak came 3 years ago, HAGL is not as sure as it is now. At this time, HAGL has a mature, closed force, built with a very stable overall gameplay, instilled to each player. Every position on the field feels confident, understanding that doing the right tasks assigned by the coaching staff is successful. That gives HAGL great confidence. In addition, the HAGL force replaced very well, although replacing Tuan Anh, Viet Hung, and Quang Nho, the Nui Street team still showed this style of play. Of course, the star player will have better handling than a normal player, but Kiatisak’s students understand that if they keep doing the right direction, the team will have good results. HAGL is a potential candidate for the championship. They deserve this position. Thank you for the conversation!

On April 12, HK01 reported Han Quan Dinh, Miss Asia (ATV) in 1997, filed for bankruptcy to the court when he could no longer pay his debts.

Before Han Quan Dinh, there was no shortage of artists in the Hong Kong entertainment industry for many different reasons, but fell into deep debt, had to declare bankruptcy despite owning millions of dollars.

Pepper is insatiable

In its heyday, Hong Kong showbiz was considered to be the top entertainment industry. According to the OnThe slightly well-known B-class artist now also received a remuneration of more than $ 15,000. This figure for A star will be 3-5 times higher.

Therefore, many celebrities and amateurs after only a few works have accumulated a large amount of money, even becoming a giant of showbiz. However, many people also quickly get bogged down when suddenly holding a large amount of money.

They use all the money they earn to satisfy personal needs such as buying super cars, expensive clothes, luxury mansions or burning money on silver mats. Even, they are willing to use their money to “serve” the interests of friends or relatives. Unfortunately, this has pushed many artists into misery.

Chung Zhen Dao fell into a blank situation, partly because of Zhang Xiaohi’s wasteful spending habits. Photo: HK01.

Born in 1953, Chung Zhen Dao is a famous singer-actor of Hong Kong. He has known fans through many films such as God of Great Hiep 2006, East Achievement of Western Achievement, Goodness of the Heart, Shanghai Night, Martial Arts Center, Golden Gem …

A successful career, Chung Tran Dao once owned a fortune of 20 million USD, is one of the richest singers in Hong Kong. However, his legacy slowly wears his hat away after marrying poor-language actress Zhang Xiaoyu.

Dilettante God Condor for my wife is very generous, let her spend money freely. Zhang Xiaohui can spend more than $ 50,000 a month to buy luxury items from clothes to jewelry. Because of his wife’s lavish habits, Chung Tran Dao, even if he works hard, is not enough to pay.

Add to that the collapse of Hong Kong real estate that caused the male singer to declare bankruptcy in 2002 with a debt of 32 million USD. After that, Chung Zhen Dao was humiliated to discover that Zhang Xiaohui had an affair with another rich man. Until 4 years later, he did not pay off his debt.

Meanwhile, some stars “grill” millions of dollars just because of gambling. A typical case is Ngo Khai Hoa.

Ngo Khai Hoa defaulted on gambling. Photo: Sina.

Resounding success of Ỷ Thien Do Long signed TVB version brought Ngo Khai Hoa’s name to fame throughout Asia, becoming the classic Truong Vo Ky on screen.

However, Ngo Khai Hoa quickly became exhausted when he spent more money than he earned. According to the Sina, the actor is a gambling addict. He used to devour his fortune in casinos, debts piled up. In recent years, due to a slump in his career, Ngo Khai Hoa has to spend frugally to have enough money to support his daughter.

When she was born, she was also addicted to gambling because of her gambling addiction, she had to live on social benefits. In 2007, the media took pictures of Lam Khiet Anh going to Macau for gambling.

Just over 2 hours, beautiful beauty burned 13,000 USD once in a while. After losing, Lam Khiet Anh ran to a nearby ATM to withdraw all his money and play again.

Wrong investment

According to the HK01Another factor that contributes to many stars who do not play badly but still go bankrupt is their poor investment ability.

In the Chinese showbiz, most artists, when they earn their wealth, are conscious of having to invest their left-hand jobs to maintain their income after the glorious time or retirement. However, the lack of expertise and market acumen makes them easy to lose money and quickly run out of money.

Tran Bach Tuong is a typical case in wrong investment. According to the HK01He is the most famous record-setting celebrity with the most number of bankruptcy declarations in Chinese showbiz.

The Hong Kong star 4 times went bankrupt because of a business failure. Photo: Weibo.

Dilettante Ba Ho Street, Thu Huong point each went through 4 times of bankruptcy, of which up to 3 times of business failure. In 2015, he and his wife were even asked by creditors to put up a banner to repay the amount of more than $ 3.2 million in front of TVB headquarters.

In the years 1980-1990, Trinh Tac Si was the highest paid comedian in Cang Thom. He owns a huge fortune with a series of real estate, expensive super cars.

In 1993, Trinh and a few friends contributed capital to open a film company with the ambition to produce classics and hit hits. The film company is losing money, debt piled up after only a short time in business. Not only the wealth that has been accumulated for a lifetime, the actor himself also carries an additional debt of up to $ 2.5 million.

From the top star, Trinh fell to the bottom of the abyss. Even, he also accepted to act in level 3 to quickly pay the debt. For more than 10 years, the actor has so far paid off his debt and has stabilized his life with his wife and two children.

Meanwhile, Bat Mesopotamia was again wiped out by a storm of financial crisis in 1997. Not only a moment of nothing, his first wife, holding his arm, left home, leaving the young child behind for the actor to nurture.

Trinh Tac Si (left) and Bat Liang Kim were empty-handed because their investment failed. Photo: Sohu.

Before entering the artistic path, the male artist was the boss of a small-scale company. The will to advance plus the money to earn a lot of money, in the golden age, Bat Luong Kim owns a fortune of tens of millions of HKD, 9-storey villa and many luxury cars.

The troubled life makes the male artist many times think about suicide, but gave up because he was afraid that the child was orphaned. Later, he had to throw away his dignity, switch to high school film to earn money to support his son.

Family burden

Interview OnHan Quan Dinh said she faced a pile of debts after spending money to cure her biological mother with thyroid disease and end-stage lung cancer. The day her mother passed away, treatment costs reached $ 51,000, exceeding the ability to be responsible for Miss ATV 1997.

Years later, the actress worked hard, lived frugally to pay off the debt with 350 USD / month. To date, the remaining amount is more than 25,000 USD. Recently, due to the epidemic situation and unfavorable business, Han Quan Dinh has no income.

On HK01She admitted she was in a dead end. For the past two years, the beauty has had to live in the home of actor Thai Quoc Uy, fasted breakfast and dare not buy new clothes.

Han Quan Dinh shed tears when he talked about the current difficult situation with reporter On. Photo: On.

Former Miss Asia revealed many friends in the world when she saw her situation offered to help, but the beauty refused. “I appreciate and firmly believe in life in front of people’s hearts. However, I do not want them to be harassed by financial companies,” said the female artist.

After the interview, following Han Quan Dinh’s footsteps, the reporter saw her go to the market to buy food and cook. However, after a while considering the price, in the end, Han Quan Dinh quietly left empty-handed. The exhausting situation, unable to worry about the three meals of Hong Kong’s famous pink ball, once made the audience sour.

Family robbed of relatives

Luu Gia Huy was born in 1955, was once a famous martial arts star in Hong Kong. Throughout his artistic career, the actor is remembered by the audience for his role as Kim Falun King God of goodness 1995Niu Ma Vuong in Journey to the west, Chan in Ỷ Thien Do Long signed 2000, Ta Kiem Tien in Tien earned the third half.

His life suddenly turned tragic after the illness in 2011. This event also started the series of days that caused him both physical and mental suffering.

For many years, Luu Gia Huy relied on the financial support of close friends. Photo: Sina.

After he fell ill, his second wife, Ma Fei Phung, and two children plotted to rob the estate, pushing Liu Gia Huy to a nursing home. The oldest son colluded with his former assistant secretly scammed more than $ 230,000 of his film fees.

The incident caused the actor to fall into a needy situation, without money to pay the hospital fees. Luu Gia Huy has to sell the only house he lives in for medical treatment. Since then, he has relied on the care of nursing home staff and close friends.