Car-hailing Driver: Rewards from Complaints

Chapter 635: Chapter 259: Does the Jiang Family Want Revenge? They Don’t Stand a Chance

"A series of explosions occurred at several gold mines in the United States, resulting in one death and multiple injuries. As it is currently unclear whether these were accidents or intentional actions, the Federation Government has ordered all gold mines to halt production and await further instructions before resuming operations."

"Due to the influence of these explosions at global gold mines, gold prices have surged dramatically."

...

As a result of this news, the gold market immediately became feverish.

Take Dragon Country’s A-shares, for example. As soon as the market opened, gold concept stocks surged rapidly, and within five minutes, the entire gold sector hit the price limit, driving other precious metal concept stocks to rise as well.

When Yang Chen initially devised his revenge plan against the Jiang Family, he had already instructed Jin Ming, the head of Star Investment, to stake positions in gold concept stocks in advance.

Now, Star Investment can watch as the stock prices hit the limit without spending a single penny.

This wave has allowed Yang Chen to reap substantial profits; besides retaliating against the Jiang Family, he can also earn a significant sum in the stock market.

Jiang Zhengtian panicked as soon as he saw the gold prices soaring.

The 85 tons of gold mortgaged at the bank had to be repaid at the current price.

If these gold prices kept climbing this way, they would have to pay the bank a significant amount of money to redeem those 85 tons of gold.

What?

Abandon the gold?

Normally, if the gold were genuine, they could indeed abandon it, breach the contract, and let the bank handle it, which indeed is an option.

But the problem is that the gold is fake. Except for a thin layer of gold plating, the inside is made of alloys like copper, tungsten, and iridium. To evade detection, they added lead, ultimately creating 85 tons of what appeared to be 999 pure gold to use as bank collateral.

Once this scam gets exposed, it involves a staggering 30 billion case, and not even imprisoning every member of the Jiang Family will suffice as punishment.

Hence, Jiang Zhengtian dared not think about controlling Changhua Development and Jiuhuan Group; all he wanted was to quickly retrieve funds to redeem the 85 tons of gold from the bank.

However, the predicament was that they had already transferred the funds into a regulatory account; even if they abandoned acquiring those two companies, they would need to go through procedures to unfreeze the funds.

Jiang Zhengtian had no choice but to quickly mobilize all available funds, sell financial products, properties, equities, and companies, striving to gather as much capital as possible to repay the bank and redeem some of the gold.

Jiang Zhengtian’s every move was under the surveillance of Shield Security Group. As soon as he had such a plan, Yang Chen was informed.

Yang Chen immediately sent a message to Ning Shaoqing.

"Action! The bigger the news, the faster the Jiang Family collapses!"

Ning Shaoqing promptly took action, personally reporting to the Banking Regulatory Commission, the Securities Regulatory Commission, and other relevant departments about the interest transfer relationship between multiple banks and the Jiang Family, and how the bank accepted the Jiang Family’s fake gold as collateral to release 30 billion in funds to acquire two listed companies.

Whether or not the banks knew the gold was fake was irrelevant; with such a report, the banks would surely try to distance themselves, and they would help Yang Chen shift all the blame to Jinling Phoenix Gold Ornaments, controlled by the Jiang Family.

Simultaneously, the local news media in Jinling began an overwhelming wave of reports, leading to media nationwide following up.

"Shocking! 85 tons of fake gold swindled 30 billion in bank collateral!"

"A miraculous move by Jinling Phoenix Gold Ornaments, using 85 tons of fake gold to deceive banks for 30 billion in funds. Are there interest transfer behaviors involving related units and individuals? The relevant departments must investigate!"

"How can a small private company come up with 85 tons of 999 gold collateral for the bank, and the bank actually believed their gold was real, providing them 30 billion in collateral? It’s hard to believe there isn’t foul play here; the whole nation finds it unbelievable."

"This surpasses any common deceit! This private gold ornament company used just a few dozen kilograms of gold to create 85 tons of fake gold, swindling 30 billion from banks, and then used this 30 billion to acquire controlling stakes in two listed companies! Such an immortal maneuver, who else could dare to attempt it?"

...

With so many official media outlets reporting on this news, the relevant departments immediately took action to investigate the banks involved and dispatched professionals to conduct authenticity appraisals on the 85 tons of gold that Jinling Phoenix Gold Ornaments had mortgaged to the banks.

A financial storm sparked by Jinling’s Jiang Family had already begun to brew...