终审裁决！康得新犯欺诈发行证券罪 董事长获刑15年

Core Viewpoint - The court has upheld the conviction of Kangde Xin for securities fraud and foreign exchange fraud, resulting in significant penalties for both the company and its executives [1][5]. Group 1: Legal Proceedings - On December 11, 2025, Jiangsu High People's Court issued a final ruling, rejecting the appeal and maintaining the original judgment [1]. - The first-instance judgment revealed that Kangde Xin was guilty of securities fraud and foreign exchange fraud, resulting in a fine of 410 million RMB [2]. - The case has been ongoing for over four years, with the initial indictment received in September 2021 and the final ruling made in December 2025 [6]. Group 2: Penalties and Sentences - Kangde Xin was fined a total of 410 million RMB, which represents 3.29% of the company's most recent audited net assets [5]. - Chairman Zhong Yu was sentenced to 15 years in prison and fined 20.2 million RMB for multiple offenses, including securities fraud and foreign exchange fraud [3]. - Other executives, including Xu Shu and Wang Yu, received varying prison sentences and fines for their roles in the fraudulent activities [3][4]. Group 3: Nature of the Fraud - The fraudulent activities involved systematic financial deception over a period of seven years, significantly disrupting the securities market [2]. - The defendants conspired to mislead investors and authorities, leading to severe legal consequences [2][6].