Mr. Miles Guo, who is lived in exile in New York for more than five years, sued UBS (UBS Group AG) based in London, says that the bank pressured him into agreeing to borrow money tied to the purchase of shares in the Chinese brokerage Haitong Securities Co., Miles Guo said UBS forced the sale of the stock, amid a market rout and a 45% plunge in Haitong’s Hong Kong-traded shares in 2015, that caused to wipe out his investment.
However, UBS has internal policies in place that do not allow to make margin calls for “highly valued customers”, such as Mr. Guo when prices tied to the loan moved in the short term, a lawyer representing the businessman said in the filing. In another instance of high-profile financial transaction, that involves the Chinese insurer Ping An Insurance Group Co., which UBS agreed not to make margin calls, the Mr. Guo lawyer added.
In Miles Guo’s live broadcast, he indicated that the UBS made a conclusion along with the CCP Red Family, that includes Wang Qishan family convinced him into agreeing to borrow 775 million dollars from UBS, furthermore UBS also convinced Mr. Guo to invest in Haitong Securities Co. through the intermediate funds, which later UBS said it cannot disclose the background of the investors.
From 2015 May 15th to May 29th, when the Chinese stock market was very hot, Mr. Guo placed large-scale investment in Haitong Securities H-share placement through four platforms, among them are ACA (ACA CAPITAL GROUP LIMITED) own capital to invest $1.98 billion dollars then it was matched by UBS, Morgan Stanley and other brokerage firms for a total of $1.225 billion dollars to purchase $1.436 billion shares. It was then hit hard by the stock market crashed in early July 2015, when its 559 million Haitong shares were forcibly closed out by UBS with a loss of nearly $500 million; the net cash loss still was amounted to $120 million due to a single Morgan Stanley placement. The total cash loss for both items was $620 million.
Although because of Mr. Guo is the chairman for one of the four funds, at once the fund of Haitong shares were closed out by UBS, with a loss of $1.8 billion, and then Bosun News Network, which was controlled by the CCP Red Family, Jiang Zeming family had a negative news about Mr. Guo, therefore Mr. Guo again had a loss of 1.2 billion because of the shares of other funds were closing out by UBS. The total loss had been up to 3 billion in two days.
So the loss of Mr. Guo in the Haitong’s case is far more than 500 million dollars, and more than 3 billion dollars. In this Mr. Guo case, the CCP Red Family was colluding with UBS to swallow his investment.
UBS reaped a huge benefit from Miles Guo’s case. UBS Securities is the first fully licensed joint venture securities company with foreign equity participation in China under the help of Wang Qishan family. In many money laundering cases, you can see that UBS has always the tool used by the CCP to siphon off the people’s wealth and transfer monies to the foreign countries. In the case about Zhou Yongkang, the former member of the Politburo Standing Committee of Chinese Communist Party, Wang Qishan personally transferred few billion dollars from Zhou’s account to his illegitimate daughter Sun Yao’s account under the help of UBS.
It has been them all along to enslave the 1.4 billion Chinese people, and the financial license which UBS owns is not legal, more like was a duty. Only to beat up UBS, and disclose the true nature of the dark force from the Davos Forum, thus we can build a new financial order.
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