Red Star Macalline(SH:601828) Jing Ji Guan Cha Wang·2025-04-27 07:31Core Viewpoint - The case of Gao Shuang, the former CEO of Red Star Macalline, involves embezzlement of 3.493 million yuan through inflated service fees in a foreign investment project, leading to his conviction and a sentence of three years in prison with a five-year probation [1][5][7]. Group 1: Case Details - Gao Shuang was found guilty of embezzling 3.493 million yuan by inflating service fees related to a foreign investment project in Chongqing [1][5]. - Gao Shuang was arrested on May 24, 2023, and was previously the CEO and co-chairman of the Southwest region at Red Star Macalline [2][3]. - The court determined that Gao and his accomplice conspired to inflate service fees, which constituted a significant breach of fiduciary duty [5][6]. Group 2: Financial Transactions - Gao Shuang and his accomplice agreed on a 3% kickback from a service fee of 390 million yuan, resulting in Gao receiving 349.3 million yuan after the deduction of taxes [3][6]. - The service fee was set at 13% of the foreign investment amount, with the total payment made to the intermediary [3][6]. - The funds were transferred through unusual channels, indicating an attempt to conceal the embezzlement [6]. Group 3: Legal Proceedings - Gao Shuang was sentenced to three years in prison, suspended for five years, and fined 200,000 yuan, while his accomplice received a two-year prison sentence and a fine of 100,000 yuan [7]. - Testimonies from the former chairman of Red Star Macalline, Che Jianxing, were crucial in the court's decision, as he later denied approving the additional service fee [6][7].