Katie Investment Two Executives Arrested In Deep Tianshan Textile Insider Trading

Surrounded by

On the afternoon of September 17th, the head of the relevant department of the SFC confirmed that during the major asset restructuring of Tianshan textile in July 2009, Yao Rongjiang, general manager of Xinjiang Katie investment limited liability company (hereinafter referred to as "Katie investment") and Cao Ge, deputy general manager of the company, involved in insider trading and leaked insider information. The case has been pferred to the public security organs.

All of this came from a detailed report on the change of interest in Tianshan textile in June 21st this year. The report revealed that in the 6 months before the suspension of reorganization last July 23rd, a total of 9 directors, supervisors, senior executives and immediate family members bought and sold shares of the company.

Including Katie investment Deputy

At that time, Tianshan textile announced a resumption of trading in June 18th for nearly a year. The company plans to issue 120 million shares to Katie mining and Qinghai snow express in accordance with the price of 5.66 yuan per share, and purchase 75% stake in the West Mining Co., Ltd., held by Katie investment.

Encouraged by this news, Tianshan textile rose 103.18% in just 14 trading days.

However, the announcement of executives' Stealing step buying stocks after the big rally aroused suspicion in the market, and the SFC also set eyes on Tianshan textile in February this year, placing an investigation on it.

The head of the relevant departments of the SFC pointed out that before the suspension of Tianshan textile planning and Katie's investment restructuring in July 23, 2009, Yao Rongjiang leaked the restructuring information to Wang, who bought more than 100 shares of Tianshan textile stock through its multiple securities accounts.

Meanwhile, Cao Ge leaked the restructuring information to Chen, who used himself and his relatives to buy Tianshan textiles in large quantities.

Previously, Cao Ge had previously disclosed that the account used to trade was Chen Xuesong who had intersect with Xinjiang hops Limited by Share Ltd (hereinafter referred to as hops).

The account Yao Rongjiang used to operate is his college classmate, Wang Qing. Wang Qing's investment in Xinjiang Han Yang is also suspected of the actual control of Yao Rong Jiang.

However, the head of the relevant departments of the SFC did not confirm whether Wang and Chen, who were involved in the results of the notification, were two people, Wang Qing and Chen Xie song. They said that the case was not disclosed in the judicial process at present.

The latest news shows that Yao Rongjiang, Cao Ge, Wang and others have been arrested by the procuratorate.