The media said that 100 senior executives of FAW were investigated or experienced a major personnel exchange.

According to 21st century business herald, the reporter learned from authoritative sources that so far, more than 100 senior management members of FAW Group have been taken away by the task force to assist in the investigation, and tens of billions of funds have disappeared.

On the morning of the 2nd, the working meeting of the board of directors of China First Automobile Co., Ltd. was held, and seven people including Xu Jianyi formed the board of directors of FAW Co., Ltd. The seven members of the Board of Directors of FAW Co., Ltd. are Xu Jianyi, Xu Xianping, Sun Guowu, Song Ning, Leng Rongquan, Duan Yongkuan and Hao Yinfei. Among them, Xu Jianyi is the chairman of FAW, Xu Xianping is the director of FAW, Sun Guowu is the employee director of FAW, and the other four are external directors. Since the end of 2011, FAW Group has been caught in the audit storm of the National Audit Office due to the problem of power rent-seeking. Today, this case has been further fermented, and the cases in the case have been exposed one after another. Due to the impact of the FAW Wo case, the management of FAW Group may undergo a major change of blood, or it may experience the biggest personnel shock since the establishment of the factory in 1953.

The people who were taken away to assist in the investigation involved the relevant responsible persons of several subsidiaries and departments of FAW Group, with a large number of people and complicated cases, and some senior management members of subsidiaries were even taken away. These include Zhou Yongjiang, former general manager of FAW-Volkswagen Sales Co., Ltd. and deputy chief economist of FAW Group.

It is also revealed that the relevant departments have set up five joint task forces with different classifications in response to a series of recent major corruption cases, one of which is responsible for thoroughly investigating the FAW series of cases.

It is understood that the main investigation direction of the current task force is locked in the violation of FAW-Volkswagen and the upward trend of real estate funds of FAW Group.

The media said that 100 senior executives of FAW Group were taken away.

More than 100 executives took away the investigation.

"Since last year’s audit storm, the investigators of the Commission for Discipline Inspection have been in and out of FAW Group, and people inside FAW are now worried. We don’t know who will be taken away tomorrow? " On April 9, a management person inside FAW-Volkswagen privately sighed to our reporter.

According to core sources, in the past month, more than 100 managers have been taken away by the task force to assist in the investigation, and many of them have been double-regulated, including Zhou Yongjiang, deputy chief economist of FAW.

At the height of the internal turmoil in FAW Group, many FAW executives booked air tickets to travel abroad, with only one purpose: to prove to the outside world that they had not been investigated by relevant departments.

"At this point, several senior executives in FAW have been notified to restrict going abroad, and the list of senior executives is obviously rarely known within FAW, so in order to prove their innocence, many senior executives chose to travel abroad." The source said.

The relevant case is significant and complicated. "There are tens of billions of funds unaccounted for, and now the financial clean-up work is underway, and some of them have been found to be misappropriated and embezzled."

According to this person, the fuse of the case of FAW Group was indeed due to the audit storm caused by the overall listing plan of FAW Group. "But this is also due to some conscientious senior employees and retired cadres of FAW System. Their previous reports laid some foundations for the investigation."

In the middle of last year, Jing Guosong, deputy general manager of FAW-Volkswagen Sales Company, was taken away by the discipline inspection department for investigation because of economic problems. The survey results show that Jing Guosong is involved in tens of millions of yuan. In addition, a person in charge of the large customer department of FAW-Volkswagen Sales Company committed suicide by jumping off a building at the same time.

"Jing Guosong’s investigation is likely to be related to FAW-Volkswagen’s internal handling of buyout resources." According to the reporter’s understanding, from 2007 to 2010, more than 170 non-commercial vehicles of FAW-Volkswagen were not recorded in time. The reporter confirmed from relevant departments that Jing Guosong’s investigation was closely related to one group of vehicles.

Real estate out of the case in the case.

In addition, the billions of unaccounted-for funds disclosed by sources are mainly concentrated in the real estate projects under the FAW Group. "This huge financial loophole has existed for many years, not overnight. Several insiders provided detailed reporting materials, which made a breakthrough in the investigation of the case. " The above-mentioned insiders said that at present, there are more than a dozen cases caused by the illegal operation of real estate in FAW, many of which belong to the case, involving a wide range of interests.

However, the insider refused to disclose the details of the real estate case of FAW Group.

At present, in addition to holding FAW Car and faw xiali, FAW also owns 13 enterprises, including faw liberation, FAW Volkswagen, FAW Jilin Automobile Co., Ltd., FAW Bus Co., Ltd., FAW Foundry, FAW Mould Manufacturing Co., Ltd., FAW Logistics Co., Ltd. and FAW Finance. Almost every enterprise has its own land resources.

The real estate projects of FAW Group also have considerable advantages in Changchun. According to local people in Changchun, almost half of the real estate projects in Changchun have the shadow of FAW, or participate in shares or develop directly.

However, FAW’s real estate project funds often disappear in the end.

"The relevant departments speculate that these assets involving the illegal operation of real estate development in disguised form of state-owned industrial land may fall into the hands of individuals, so several FAW executives are involved." The source said. Joint development with local real estate developers on the grounds of building factories and workshops. But it is puzzling that in the joint development, many projects have been "reincarnation" several times.

Deep water in FAW’s real estate business, as early as February this year, some media disclosed some clues.

It is reported that since 2006, Sichuan Mingjun Group has successively acquired three enterprises under FAW Group, namely FAW Chuanzhuan, FAW Hua Kai and FAW Hongding. The original sites of these three enterprises are located in the high-quality core area of the local main city. These enterprises have all moved or will move as a whole, and the original plots are used to develop high-end real estate projects.

For example, in December 2006, Mingjun Group, which had never set foot in the automobile industry before, injected 240 million yuan into FAW Chuanzhuan, a high-quality asset of FAW Group, by way of capital increase and share expansion. In the Spring Festival of 2009, FAW Chuanzhuan was moved out of its original site located in the core area of East Lake in the Second Ring Road of Chengdu, freeing up about 300 mu of land. Mingjun Group announced on its website that it will build a high-end urban complex integrating five-star hotels, Grade A office buildings, business and leisure areas, high-end quality houses and diversified financial and commercial clusters. The construction period of the project is 5 years, and the first phase is expected to open in 2013.

After that, FAW Hua Kai and FAW Hongding, which were also acquired by Mingjun Group, were both located in the main urban area of Changchun, with a land area of more than 200,000 square meters. The two factories have started the overall relocation, and the original land has now become the high-quality land reserve of Chengdu Zhonggang Real Estate, a real estate company owned by Mingjun.

It is reported that employees of FAW questioned Mingjun Group’s acquisition of FAW’s subsidiaries. In 2008, employees of FAW Hua Kai also expressed their opposition to the acquisition by Mingjun Group. They believe that Mingjun’s main business is real estate development, and the purpose of acquisition is not to promote the development of automobile enterprises, but to make money by acquiring real estate or reselling land. If they are acquired, the survival and development of these factories are insignificant to Mingjun Group, and the interests of factory employees will not be guaranteed.

In fact, during the relocation of FAW-Sichuan College led by Mingjun Group in 2009, there was a contradiction between Mingjun Group and some employees on the ownership of housing once allocated to employees, which led to the suspension of production. After the original FAW enterprises such as FAW Hua Kai were acquired by Mingjun Group, employees of the enterprise also visited the headquarters of FAW Group for many times because of treatment problems.

The people involved include Zhou Yongjiang, the former general manager of FAW-Volkswagen Sales Co., Ltd.

Changchun high-level officials frequently go to FAW to stabilize the army.

Drawing lessons from the case of FAW Wo, the case is of great importance and involves a wide range of personnel. Recently, senior party and government officials in Changchun, where FAW is located, frequently went to FAW to investigate and communicate with employees to stabilize the morale of FAW.

FAW is self-evident for Changchun politicians. According to the data learned by the reporter, from 1993 to 2010, FAW paid more than 190 billion yuan in national taxes, and its output value once accounted for half of Changchun City and more than one third of Jilin Province.

It can also be seen from Gao Guangbin, the current secretary of Changchun Municipal Party Committee, who has visited FAW for many times. On April 7th, Gao Guangbin waited for FAW headquarters to hold an on-site office meeting, which indicated that service and support for FAW should be the top priority of the city’s economic work. "FAW’s request is our responsibility, and we must support FAW with the strength of the whole city."

It is not difficult to understand that many senior executives of FAW have been investigated, and its vibration is great and its coverage is wide.

But FAW’s troubles may not end in the short term.

"The case of FAW Group is very complicated, and it may not be over so soon." The above-mentioned insiders said that the current management of FAW Group is actively striving for the overall listing, but before the internal case of FAW Group has not been investigated clearly, the plan to realize the listing can only be a castle in the air.

Financial problems of FAW announced by the National Audit Office in 2012

On June 1, 2012, the National Audit Office disclosed to the outside world in detail the specific problems found in the financial revenue and expenditure audit of FAW Group for several years, specifically:

1. From 2007 to 2010, the information of 176 non-commercial vehicles used for performance test and other purposes of FAW-Volkswagen Automotive Co., Ltd. was not recorded in time, resulting in the discrepancy between the accounts of non-commercial vehicles.

2. From 2008 to 2010, three enterprises including faw liberation Sales Company had 32,279,200 yuan of irregular invoices, of which 14,845,500 yuan was charged in 2010.

3. In 2010, FAW Mazda Sales Company underpaid the VAT by RMB 10,960,800.

4. From 2008 to 2010, the proportion of investment in research and development of independent products of FAW Group was low, and the profitability of independent brand cars was not strong. The profit of vehicle business mainly came from joint ventures.

5. From 2008 to June 2011, the affiliated FAW-Volkswagen Automobile Co., Ltd. failed to perform its management duties in 27 construction projects (with a total contract amount of 2.037 billion yuan), and the contractor changed the agreed site construction management personnel for each project.

6. From 2009 to 2011, the Marketing Management Department of FAW Group and its affiliated FAW-Volkswagen Automobile Co., Ltd. did not strictly review the advertising fees and some related project settlement materials, and overpaid 21,490,100 yuan for advertising fees, agency fees and project funds.

7. In 2010, two investment projects of two enterprises, including FAW Logistics Co., Ltd., started construction illegally without obtaining the right to use state-owned construction land, with a total investment estimate of 2.303 billion yuan.

8. Since December 2010, FAW Dazhong Sales Co., Ltd. has blocked the data exchange between the vehicle sales system and the financial system through plug-ins, which makes the data of the financial system and the vehicle sales system unable to keep synchronization, thus affecting the accuracy of the year-end financial data of the joint venture company.

Because the audit found that the economic problems of FAW-Volkswagen joint venture company were the most prominent, after the audit department transferred the materials to Jilin office in CPC Central Commission for Discipline Inspection, with the passage of time and the deepening of the case investigation, the uncovered cases got bigger and bigger.

List of Development Time of "FAW Case"

April 1, 2013: Zhu Yanfeng, Deputy Secretary of Jilin Provincial Party Committee, made a public appearance to smash the rumors being investigated.

March 1, 2013: Xu Jianyi, Chairman of Chuanfaw Group, will leave his post.

February 25th, 2013: The director of FAW-Volkswagen Region shuffled the cards across the board, and the general manager An Tiecheng left.

February 18, 2013: The rumor of the mid-and high-level rotation of FAW-Volkswagen was related to the corruption case.

February 8, 2013: FAW-Volkswagen re-reported that the management change was alleged to have originated from the bribery case of former executives.

September 28, 2012: FAW Group prepares for the overall listing: 100 people continue to guard against aftershocks.

July 23, 2012: The case of FAW-Volkswagen Jing Guosong led to the inside story: using 4S stores to cover up money laundering.

June 16, 2012: FAW-Volkswagen executives were investigated for accepting bribes and their subordinates fell from the sky.

June 6, 2012: Jing Guosong, vice president of sales of FAW-Volkswagen, was investigated for tens of millions of yuan.