Tokyo Barrister: Start the law firm bankruptcy

Chapter 577 Five Billion Yen Pledged Warehouse Receipts

Jiang Teng felt a little unbelievable in his heart.Even though the person in front of him was an apprentice he had single-handedly taught, how could that Beiyuan show such an expression.

Is it a mental disorder?
Or some sort of schizophrenia?
Is it because of huge debts and psychological pressure that caused abnormal behavior?

Jiang Teng frowned slightly, staring at the young man in front of him.

"Yes. I almost forgot who I am." Kitahara's mouth turned up slightly, and he began to walk towards Jiang Teng, "Now, we should have a good chat. First of all, it is about the Mizuho Bank's pledged warehouse receipts worth [-] million yen copper. Should you explain it?"

Jiang Teng focused on every move of the young man in front of him.For some reason, his intuition was faintly telling him that this young man had become an extremely difficult opponent.The voice of the former director of the law firm sounded: "Beiyuan. This is not a court, and you are not a judge. I have no obligation to answer your questions."

Beiyuan ignored Jiang Teng's words, and his voice continued: "I have thought about it for a long time, but I can't figure it out. Why is a lawyer trying to steal the pledge warehouse receipt for copper materials? And, what exactly did you use? The method can make a whole 290 tons of copper disappear like magic. Strange, really strange.”

"There is no need to delve into many things in this world." Jiang Teng still stood still, but he was ready to be approached suddenly by the young man in front of him at any time.

"It wasn't until later that I asked the insiders of Mizuho Bank for a number that I suddenly realized." Bei Yuan walked to the middle of the room on the top floor and stopped right under the angry-eyed statue while talking.

"Oh——" Jiang Teng smiled, "What numbers did you learn?"

"It's very simple." The young male lawyer continued, "I asked them about how much copper pledge business Mizuho Bank will undertake in a year from the Wakasu Wharf in Tokyo Bay. The people from Mizuho Bank told me that they only The number of copper pledges handled at Ruozhou Wharf reached 76 tons."

Jiang Teng listened to Kitahara's words, but for the time being, he couldn't figure out what the young man in front of him wanted to express.

Just asking how many tons of copper pledges Mizuho Bank handles in Ruozhou Wharf in a year, what's the point?
However, just in the next second, Jiang Teng felt like a flash of lightning flashed across his mind, instantly understanding the deep meaning of this number that the young man in front of him understood. "

"Yes, a total of 76 tons." Bei Yuan straightened the collar of his shirt, "However, I compared the total amount of copper imported by Ruozhou Wharf last year. Ruozhou Wharf imported a total of 216 million tons of copper materials last year. Also That is to say, only one Mizuho Bank handles the copper pledge business, which accounts for nearly one-third of the import volume.”

On the top floor of the castle tower, the voice of the young male lawyer was still calm, "Is Mizuho Bank too powerful? Obviously not. Mizuho Bank is only one of the five largest banks in Toyo, and the financing of imported goods is not its strong point. Such a bank It is absolutely impossible to swallow one-third of the copper pledge business of Ruozhou Wharf.”

"I've thought about it for a long time, where is the 290 tons of 290 million yen worth of copper. Looking at it now, the [-] tons of copper, which is the goods recorded in the [-] million yen pledge warehouse receipt, do not actually exist."

Bei Yuan's voice fell.

The entire big house fell into a deathly silence.

The expression on Jiang Teng's face remained the same without any change.

"The so-called non-existence does not mean that the 290 tons of copper do not exist." Beiyuan continued, "The 290 tons of copper are indeed in a warehouse in Tokyo Bay. It's just that it has been repeatedly pledged."

【Repeated Pledge】

[The so-called "repeated pledge" means that after the goods are mortgaged to a certain bank, they are pledged to other banks again.For example, a trading company that imports refined coal mines pledges 20 tons of coal to Bank A to obtain financing.However, this club took advantage of Bank A's management oversight and quietly pledged the 20 tons of coal to Bank B again to obtain new loans.In practice, repeated pledges are a phenomenon that banks are highly vigilant against. 】

"You should have adopted some kind of counterfeiting method. Using these 290 tons of copper, a large number of false warehouse receipts were fabricated. The copper positions contained in these false warehouse receipts may far exceed thousands of tons. That is to say, obviously The actual copper is only 290 tons, but the total copper tons of all the warehouse receipts you issued may be several times that of 290 tons. Then, you take these false warehouse receipts and go to the bank for financing. In this way In the future, the bank loan obtained for 290 tons of copper can be more than several times its value.”

Beiyuan looked at Jiang Teng in front of him and continued: "Of course, these false warehouse receipts can also pass the bank's due diligence. After all, the copper materials recorded in their warehouse receipts are indeed stored in the warehouse. When the bank staff went to the wharf warehouse for actual inspection At that time, he could indeed see that a large amount of copper was stored there. However, what the bank staff did not know was that the goods in front of his eyes had already been pledged in several banks. .”

"So, the final data presented by Mizuho Bank is that they actually undertook nearly one-third of the business of importing pledged warehouse receipts at Ruozhou Wharf. But in fact, Mizuho Bank's business volume cannot be so large. Among them, there are quite a few Most of them should be false warehouse receipts. The real market share of Mizuho Bank’s copper pledge business in Ruozhou Wharf should be about 5%, assuming that the bank’s loan is equivalent to 50% of the value of the goods. Then, you are equivalent to a full release 10 times leverage. In other words, you have at least used the same batch of copper to pledge to the bank 10 times.”

"I believe that the same thing happened not only at Mizuho Bank, but also at other banks. The copper materials at the entire Ruozhou Wharf may have caused more than fifteen times the false loan losses to the bank. If calculated by the ratio of Mizuho Bank, Toyo The five major banks will at least accrue bad debts due to repeated pledges of copper at Ruozhou Wharf, resulting in a loss of about 15% of the net profit for the year. This is definitely a catastrophic financial accident.”

"So, I also understand why you stole the pledged warehouse receipt." Beiyuan's voice continued: "The pledged warehouse receipt you stole should contain some wrong information. This wrong information is enough It made the bank discover the double pledge. Therefore, you chose to steal this pledge warehouse receipt.”

"Okay, Mr. Eto. This is my analysis."

Bei Yuan's voice fell.

The young man in the room displayed unparalleled reasoning abilities.

It turned out that there may be repeated pledges of copper at Wakasu Wharf in Tokyo from just two figures.

And following this clue, he directly deduced the whole story before and after Jiang Teng stole the pledged warehouse receipt.

"Wonderful." Jiang Teng smiled and clapped his hands, "Bei Yuan, you can always surprise me."

The sound of clapping echoed on the top floor of the castle tower.

However, in the next second, the former director of the law firm reached out and raised his glasses, and then Jiang Teng's voice sounded:

"It's a pity, though. You're wrong."

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PS: The author tries his best to write something every day during the working days, at least it can be updated every few days, and try not to stop for a long time.

(End of this chapter)