Core Viewpoint - The case of Inner Mongolia Green Company highlights a significant loan fraud involving the misrepresentation of collateral, where duck meat was falsely pledged as sheep and beef, leading to substantial financial losses for the bank and affected farmers [1][4][5]. Group 1: Company Background - Green Company is located in Inner Mongolia's Xilin Gol League, specializing in the slaughter, processing, storage, and sale of sheep and beef, with an annual production capacity of 6000 tons of meat products [3]. - The company was once recognized as a leading poverty alleviation enterprise in Inner Mongolia, actively engaging in social responsibility initiatives [11][12]. Group 2: Fraud Details - The legal proceedings revealed that the company’s representative, Hu Guodong, was convicted of loan fraud and contract fraud, resulting in a 15-year prison sentence [8][9]. - Hu Guodong fraudulently obtained over 40 million yuan in loans by pledging 808.74 tons of water-injected duck meat as collateral, while only about 65 tons of actual sheep and beef were present [4][5]. - The bank suffered a loss of approximately 39.86 million yuan due to this fraudulent activity [5]. Group 3: Legal Proceedings - The court found that Hu Guodong had misled farmers into selling livestock under false pretenses, resulting in losses of over 16 million yuan for more than 70 victims [1][9]. - The case involved multiple loan applications and a lack of proper oversight from the bank and the third-party regulatory company, which failed to verify the authenticity of the pledged collateral [7][10]. Group 4: Financial Impact - The assets of Green Company, including slaughtering and freezing equipment, were auctioned off multiple times, with the latest auction yielding only 17.698 million yuan, significantly lower than previous valuations [2][3]. - The company’s financial troubles escalated, leading to a debt of over 57 million yuan and a complete breakdown of its operational capacity [9][13].

Core Viewpoint - The article discusses the legal proceedings and sentencing of Adam Tan (谭向东), the former CEO of HNA Group, who was convicted of multiple financial crimes, including breach of trust and loan fraud, resulting in a six-year prison sentence [2][17]. Group 1: Legal Proceedings - Adam Tan was sentenced to six years in prison for three crimes: breach of trust damaging the interests of a listed company, loan fraud, and embezzlement [2][17]. - The Haikou Intermediate People's Court separated the cases of Tan and other executives due to Tan's U.S. citizenship, leading to different trial proceedings [10][4]. - The court's decision on Tan's case was announced on July 17, 2025, following the earlier sentencing of other executives, including Chen Feng, who received a total of 12 years in prison [13][16]. Group 2: Background of Adam Tan - Adam Tan, born in March 1967 in Jiangsu, China, became a U.S. citizen and joined HNA Group in its early days in the 1990s [5]. - He held various positions within HNA Group, including Vice Chairman and CEO, before the company was taken over by the Hainan provincial government in 2020 [5][6]. - Tan, along with other executives, was taken into custody by Hainan police in September 2021 due to criminal allegations [6][8]. Group 3: Regulatory Actions - The China Securities Regulatory Commission (CSRC) previously penalized Tan and Chen Feng for serious violations related to massive related-party transactions and fund misappropriation from 2018 to 2020 [17][18]. - The CSRC imposed a ten-year market ban on Tan, citing his role as a key executive and the severity of his violations [18][19]. - The legal charges against Tan are closely related to the CSRC's findings, which indicated significant breaches of fiduciary duty that led to substantial losses for the company [19][17].

Core Viewpoint - Adam Tan, the former CEO of HNA Group, was sentenced to 6 years in prison for multiple crimes including breach of trust, loan fraud, and embezzlement [1][4]. Group 1: Background of Adam Tan - Adam Tan, born in March 1967 in Jiangsu, China, later became a U.S. citizen and joined HNA Group in its early days during the 1990s [2]. - He served in various leadership roles within HNA Group, including Vice Chairman and CEO from 2016 to 2020, before being replaced after the group was taken over by the Hainan provincial government [2]. - In September 2021, he was taken into custody by Hainan police due to criminal allegations, alongside other key figures in the company [2]. Group 2: Legal Proceedings - The Haikou Intermediate People's Court sentenced Tan on July 17, 2025, for three crimes, resulting in a total of 6 years imprisonment and corresponding fines [4]. - The court's decision followed a series of criminal charges against Tan and other executives, including Chen Feng, who faced similar accusations [2][3]. - The court proceedings were split into two cases due to Tan's U.S. citizenship, which affected the legal process [2]. Group 3: Regulatory Actions - The China Securities Regulatory Commission (CSRC) previously penalized Tan and Chen Feng for serious violations related to HNA Group's financial practices between 2018 and 2020, including undisclosed related-party transactions [4][5]. - The CSRC imposed a 10-year market ban on Tan, citing his significant role in the company's illegal activities [5]. - The breach of trust crime is defined under Chinese law as actions by company executives that result in substantial losses to the company, with penalties ranging from imprisonment to fines [5][6].